Some attorney somewhere may have a "fool proof" way of doing them, but I haven't seen one yet that satisfies me.I have spent a lot of time in court over title issues and won each time, but it takes away from doing the thing you'd rather do.  100% agree.

An owner of a higher listed property may be willing to take a steeper discount than a lower priced property where the owner is stuck at their list price.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

We just offered on a house with all contingencies waived and after the depositing the initial deposit we realize they are counting 300 sqft of completely unfinished room with no ceiling hvac huge  unit in it and with all sorts of pipes taking floor space and ceiling space as a room of 300 sq ft.This is misrepresentation as it makes the house so much smaller in the basement and we are already paying above asking by 50K.

Would it be possible to take my $100,000 liquid cash and their equity and go to a lender and get some sort of funding for the rehab?

As @Daniel Hyman said, getting into the 3+ property range can overwhelm people and take too much time.

Each of those should know each other in a market as well.One thing to be aware as an out of state investor is that there are unfortunately people out there to take advantage.

Or is your plan to take their equity as your profit?

Here’s a breakdown of the pros and cons of each approach based on my experience:Tenant Swapping:Pros:Tenant Retention: Keeps the property occupied, which helps avoid vacancy periods.Minimizes Turnover Costs: No need for cleaning, marketing, or re-screening tenants if the new person is already known.Flexibility for Tenants: Can be seen as a more tenant-friendly approach, allowing them to find a replacement without facing penalties.Cons:Risk of Unknown Tenants: The new tenant might not be as reliable as the original one, leading to potential issues down the line.Lease Violations or Delays: If the new tenant doesn’t meet the lease requirements or fails to sign a new agreement, this can lead to complications.Operational Complexity: Keeping track of the lease terms, managing paperwork, and ensuring proper screening for new tenants can increase administrative work.Notice for All (One Notice to Vacate for Everyone):Pros:Clear Expectations: Everyone knows what’s expected, and there are no surprises with last-minute tenant changes.Consistency: Easier to manage leases and tenant turnover with a straightforward system.Quality Control: You can screen all tenants that are moving in, ensuring the new occupant meets your standards.Cons:Longer Vacancy Periods: The property may stay vacant for longer, especially if finding a replacement tenant takes time.Tenant Frustration: Current tenants may not be happy with the requirement to vacate, even if they want to stay.Marketing and Re-screening Costs: You’ll have to go through the process of finding and screening new tenants, potentially leading to increased costs and downtime.I’d love to hear what others are doing!

So we take ours up to 350 pounds.