Now taht real estate has gone back to the good ole days of not being an appreciation machine and a good investor needs sound fundamentals in managing and overseeing the properties - now you are given the wave of "creative finance" which comes off as its easy to get a home but it will be interesting to see how these people are fairing in a few years of mismanagement of these assets. 

You can identify good cash flow opportunities on a fairly large scale. 

I enjoy tenants turnover ever few years for the reason fair market rents tend to increase significantly year over year. 

What rentals are not subject to fair housing law?

Look at Homes.com or Realtor.com to get an idea what that type of property is selling for (look at the ones Pending or Under Contract)...or, look in the county's GIS system to see what similar properties sold for.Once you have an idea what a fair market value would be, let the landlord (if they're interested in selling) mention their price. 

I'm a decent and fair guy so I appreciate the entrepreneur spirit, but to take free of charge is THEFT.

Those policies that weren’t forced on the plan of last resort, the state run California ‘Fair’ Plan are significantly underinsured.

Larry want's $1million dollars which is fair. 

If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.

I'm also considering finding a seller that would pay more than me to help my father-in-law out and perhaps get a wholesale commission that I could use on my next (ok, first) brrrr, but I'm not sure the best way to validate a fair price or know what a fair wholesale commission would be.