After complete drying proceed with your rehab.

The investor community is small enough that his jobs will dry up and he will go away - if not land in jail. 

The few blocks around my house seem to have dried up on the ten or so houses for sale this last six months.

Mostly because foreclosures are drying up and their are a lot less houses below market value.

If I ever make it back out to AZ, I will look you up-- I miss the dry heat.

AND Blue Ridge is a dry county!  

@Scott Steffek you bring up an EXCELLENT point that I forgot to think about if I can get a $50K or lower turn key property with a 25% down payment that would be great, but it would not really count for much if the turn key company does like the pump and dump real estate investors who buy multi family paint and put new carpet, put just anyone in there and then say "newly renovated, fully occupied" and are out the door before the ink is dry on your check. 

I'm selective on deals, and all of these are running at 8-10% cap rates.I'm cashflowing nicely, but have run out of dry powder.

The ones that we do have issues with we typically can stem the issue back to the purchase side of things.....I.e.

He I so dry and hard to follow, that I don't feel like I'm getting what I paid for.