As expenses fluctuate (property taxes, insurance, maintenance items, etc), the cash flow is up and down and unreliable.

This way I get paid upfront for my work 1-2k plus I know I have another payday at some point in the future if the deal closes.The costs to fully develop a property and sell for near retail usually involves the costs below and takes 2-6 months or more in some cases, but the profits can be huge if you're working in markets where land costs are high:Title 200-400Legal 500-2000 depending on zoning issuesIf wetlands are present AND its a buffer zone project: 2000-5000Perc & septic design if needed 1500-3000Treescaping & cleanup for retail sale 500-1500Selling costs of 6%I tend to stay clear of properties that need more than the above expense items.  

Having a GC that will provide good documentation, itemized receipts, etc. will make the process much easier I've noticed. 

Due to item 1, adding an ADU can require years to start achieving any return (once the accumulated cash flow recovers the initial negative position).4) Adding an ADU is a slow process.

Own every nice toy, item, apparel, everything imaginable.

Please note that contrary to common belief a lender can NOT prohibit a transfer, they could only declare such transfer a item that allows them to accelerate the note.Up until now, very few notes have been “called” due when title has transferred.  

Lastly, I make sure that we are double checking and doing proper due diligence - I walk the property and do an in-depth investor walkthrough for them, we do a home inspection, we have a licensed GC to walk and write up an itemized bid, etc.And to answer the last part of your question, one of the hottest markets is Columbus Ohio!

You can get some estimates from contractors for what they charge for big ticket items like to renovate a bathroom, renovate a kitchen, replace the furnace, replace the roof, etc.All wholesale deals should have free and clear title and you should be able to see the sales agreement before submitting the earnest money deposit.

The AP has to be open, notorious and hostile...those terms have a legal meaning and essentially it is that you as the owner have been fully deprived of your right to the property.Absent those items above, it sounds like at best they have another legal right which is a "prescriptive easement".

The green boxed items are the form, and the "sell my house now" button.So the green boxes represent all the conversions.