@Chrissy ArnoldI was under the impression that a realtor would have a list of sellers or access to seller and sending letters to random homes is a needle in a haystack.

I was just wondering how common 75% is and if I should go through the trouble of looking for a needle in a haystack...or 75% LTV is common?

On the other hand, you may have found a needle in a haystack - you are direct with owner, there are no brokers involved, the owner is clueless about the market and is willing to sell you a $10M property (you have an appraisal for it already) for $5M on 100% owner financing.

The needle in a haystack is out there.

Finding property here will be like finding a needle in a haystack. 

Getting to 80% ARV, which is an 80 LTV cash out, is pretty much unheard of, or you're going to be searching for a while for that 'needle in the haystack' community bank/cu or something like that.

But those cash on cash returns if 20% in South Florida is like finding a needle in a hay stack.

Finding homes in the Sub 30K price range is about like a needle in a hay stack in my market.

To do such a thing, you must either find that needle in the haystack, or create relationships with those capable of delivering product at such discounted prices.

You will have truly found the needle in a haystack.