Having professionals we can call to see how backed up they might be factors in as well - if we can't get a roof done ASAP, that holds everything else up if we have a leak so again, more time, more holding costs, lower ROI.Unfortunately I do not think there is a magic metric that can tell you if the deal is a winner or not. 

Most investors who rehab a property want to use the new appraised value to get more cash out of the property or if not getting cash out, have a lower loan to value for their refinance.

If renters find out your utility costs are high, they will expect a lower rent to balance it out.

So the owner is not stepping into any equity but instead his or her net worth is lower based on the fact that they had to pay closing costs on the transaction.  

In-person interactions are great for building trust with potential investors.Real Estate Platforms:BiggerPockets: A robust platform for connecting with private lenders and investors.Fund That Flip, PeerStreet, Groundfloor: Online platforms connecting investors with real estate projects.Social Media Groups: Facebook and LinkedIn groups dedicated to real estate investing often have private investors or lenders looking to connect.Personal Network: Often overlooked, but friends, family, and colleagues may know individuals interested in investing.Private Money Brokers: If you're working on wholesaling deals, you may find brokers who have established relationships with private money lenders.Real Estate Agents: Some agents have connections with private investors, especially those focused on investment properties.For your 50% LTV, it's good to approach investors who may be interested in lower-risk, high-equity deals.

Here's what I am thinking: if I CAN buy the property, ask for him to sell it to me for a lower price (like 350k -- that way he gets 100k) but then doing a prom note with him for an additional 50k by pulling out equity and paying him around a year later.Do you think this idea is smart or doable? 

(Lower interest rate, easier to qualify and lower costs.)

If the government wants the debt to drop, forcing interest rates lower would likely help that by stimulating the economy.

With that being said we tend to see a lot of CA buyers relocate here for the lower cost of living including lower home values, property taxes, insurance, no state income tax, gas prices etc.

I have several CFO clients that do similar heavy rehab projects in the Midwest (albeit with a lower purchase price), so you can definitely make the numbers work.