Private Lenders/Investors: Tap into private lenders, equity partners, or hard money lenders to finance a deal.3.

What are the biggest pain points you've encountered when trying to find distressed or off-market properties?

Currently, I live in Hawaii, house hacking my own property, and am looking to expand into out-of-state long-term rentals.My goals now are to master the art of wholesaling, continue raising private money, and build a strong portfolio of long-term rentals.

OH ya remote rehab can be the biggest challenge there is..

They sit empty because the costs to update them to code make a project unfeasible for private money. 

They might not be able to finance the entire purchase amount like other investors using hard money or private money, but they have been doing it long enough to build up a bankroll that can pay for down payments and repairs.Final ThoughtsThe 70% rule is more of a guideline, not a hard-and-fast rule.

That is the BIGGEST flaw in this entire space of REI.

Research financing options like conventional loans, FHA loans, owner financing, or private lenders.Good luck!

However, an option holder won’t be able to stop a private sale from occurring (unless they find out about it before hand and obtain an injunction); the option holder would most likely need to initiate legal action after the fact. 

I’m just curious, what was your biggest wholesaling fee, and how much were the taxes on it?