Faced with the same problem I had to begin with, credit scores aren't great and don't have a qualifying cosigner for any type of traditional loan, mortgage or any type of equity refinance or HELOC, right now at this moment.

Id need to read up on this last part to confirm, but that's what im drawing from memory at the moment.

>I'd look to invest in small multi-family 2-4 units with a larger down payment ~50% or more (only way to produce positive cash flow here at the moment) I never understood why one would want to buy cash flow.  

At the moment put as much pressure to scare him as you can.4) Tell him you'll help at close and be there all along5) Don't tell him you're not the buyer, don't know the buyer or if there is even one when he signs, and really have no intention of even showing up at close.6) Make sure you put $0 into the deal or escrow.7) Make sure you tell everyone how easy it is to make money with $0 and for a fee you can put them on your list of hot deals without telling them anything about the properties.Sorry, in spite of your points, I run into wholesalers and understand profit opportunities. 

It was just a "wow" moment.

Quote from @John McKee: What are your successes, failures, and aha moments?  

We are in Los Angeles, and although we do not own anything in SD, we hold a loan on a portfolio of SFR's there that is not performing at the moment.

So the premise "prices are dropping rather substantially in Washington D.C. related to layoffs." lacks merit in my 'blink' (think the book 'blink' - I am old) moment.

I'm not sure about the other rules at the moment. 

Can skip inspections.At the moment I am turnkey all the way.