Many "investors" are greedy and want to turn the property over in one day.

I'm about 90 miles north of ATL where there are more real estate deals to be found....but fewer Trader Joes....so it's a toss-up ;) Best of luck and keep us posted on your journey!

@John Matthew Johnston don't be greedy, hand over some of that cash flow! 

I am an options trader, decent with numbers and get 20% cash on cash with non-directional, non-speculative options trading with consistency for the last 5+ years.Deal: This is the current property under contract:https://www.redfin.com/MD/Bethesda/9825-Old-George...The property has appraised for $835k as a tear down in the recent past, so purchase price seems like a good deal.

Always remember the wise words from the oracle of Omaha: "Be FEARFUL when others are GREEDY.

I wonder if the founder has some Wallstreet Greedy Fatcats as outside investors now and they are wanting to run his business into the ground and milk it for all it's worth then dump it.  

Second, beware of the two most common mistakes new landlords make and try to avoid making those mistakes:  Don't over improve your property and don't try to maximize your rents at the cost of vacancy and high turn over (either will destroy your profits so don't get too greedy).  

I'm not a greedy wholesaler so even if I came out with 2500 in a deal like this I would be okay...

People renting out their condo in my complex is also around $2800+ being so close to shops like Target and Trader Joe's...and rumors of google moving in next door and being next to a major transportation HUB, the prices are justified here in Silicon Valley.So my question is, is it a bad idea or is it even possible to obtain a HELOC to obtain a 20% down on a new "move-up" home?

When everyone else is greedy, be fearful.