If the conversation was to end there and for some reason your judgement was clouded that day, leading to the purchase of the property and later uncovering that a gas station was previously on site.

Pretty conservative considering the assignee will have 110K in equity after the rehab.You just made 30k without lifting a finger, lining up contractors, arranging financing, not to mention the possibility of uncovering something detrimental to your profits.

However, I normally have my realtor bake in enough time in the contract for due diligence to have inspection done, in an effort to ensure that there are no severe problems masked.In the event a problem is uncovered during due diligence period, or you simply don't like the house for whatever reason now that you have seen its innards, then, you can reject the deal and reclaim your EMD as a result.I have done this on several occasions.Lastly, if the property has tenants this will be good for them as well, so that less people will be walking through their living areas.

Only working the numbers on each investment properly will uncover your gains.

As I uncover more facts about this place, I get armed with more information.  

Your unique situation will likely uncover a few more.

Title Insurance includes a Title search that will uncover all existing liens on the property.

With Covid it is certainly different regarding in person interviews.....The good news is that when you'd be amazed at what you uncover if you look at the insode of their car when they come look at the property.

I am hoping that over the next couple weeks I am able to uncover more facts on this pursuit.

A title search should uncover anything like this.