You just don't get quite the exposure since people are moving away from z and their bad data.

@Jonathan Z.

Should I have a general contractor do everything from A-Z or have them only do interior/exterior work and have specialists do the other items such as plumbing & hvac?

Originally posted by @Phil Z.: No one gets involved in wholesaling Short Sales anymore.

Sadly, many buyers are actually paying these prices, because they are desperate to get deals and lack the discipline to wait until the market corrects.If you know that you can get the higher rents and are willing to accept a little vacancy in the short run, then this is a garden-variety value-add deal, assuming that you have the capital to do the value-add.I would try to get a handle on the rehab costs (worst-case scenario), and then take that to the seller and tell him that the property is overpriced because it needs X, Y, and Z, and show them the estimates you got.  

@Payal Z.

If you want the ability to change your mind for x, y or z reasons, say that.  

@Paul Z. is also investing there 

@Xin Z. 

The algorithm is here: http://dconc.gov/government/departments-f-z/tax-administration/tax-rates and is based on county taxed assessed value.