Here are the pros as i see it: easy (no purchase necessary, you know the property), likely prop 13 property tax discount, possibly below current rate loan.  

Finding some sort of value-add aspect or buying at a discount means you either create or walk into equity, which protects you.

The reality is that with the super low inventory we have sellers don't have a reason to give you a 50% discount, so your numbers get squeezed and you will end up leaving cash in the deal.

As noted, commission are always negotiable as are brokerage options (full service to discount companies that pretty much just post it on the MLS and you work with all calls, offers, etc) and an agent can go over likely net out scenarios with you and give you an idea what you likely will be able to net after closing expenses and paying off the mortgage balance. 

Like any other wholesale market, I "buy" a loan from a lender at a discount and mark it up for my profit.

I think Collin is being a little tongue in cheek with the Boone's Farm comment.I work with a local, large wine store, wait for their semi-annual sales when they compound discounts and buy 2 cases of each (white & red) for the largest discount.Basically I'm setting out wine that retails for $11-12-13 that I have paid $7-8 a bottle.  

Hence, our concerns are discounted.  

He still buys at a discount regardless of the strategy.

@David To  Yes she has been paying me a discounted rate we agreed on in March.

Also incrase your discounts on the platforms.