I guess the exception I can see are properties that need substantial repair before being sellable in the regular market, because regular buyers would shy away from them, not get financing, etc.

I'm looking at an almost identical deal... just double every number.. cost, rent, etc...  

You went in for a buy, but you were not pre approved for a mortgage.You are not a veteran, because you are still on active duty.Appraisal, inspections, attorney fees, are always out of pocket, regardless of your mtg approval.You can get a regular loan- depends on how much.

So this is definitely a bit out of my knowledge of just a regular wholesale deal that I have read about.

I am local, an active investor, and a regular on BP. 

While Im just a regular guy, I have helped my mother in law and some others with evictions. 1.On the basis of him causing damage to your property alone is a cause for an eviction. 2."

Would the full 128K be seller financed or just portion of it example 100K then at a 5 or 7 year balloon the remaining 28K or remaining balance of the 128K be paid in full.2-since 51k is owed as a refi, is it treated just as the same condition as a regular mortgage would when it comes to seller finance.

It's called the Professional Investors Guild, and I think it has a nice group of folks who regularly attend.

For expenses, you could start off using the 50% rule (assume expenses will equal 50% of your rental income) for initial analysis, but once you're doing serious due diligence, you can do the following:-Look up the property tax rate on the county assessor's website-Contact insurance companies for estimates on insurance-There are some rules of thumb for estimating regular maintenance and cap ex costs.

Generally, it is better to try to come to an accommodation with the senior lien holder before purchasing at auction, but that can sometimes be a challenge depending on the nature of the loan and the identity of the lien holder.