@Chris Seveney even better results can be obtained with a Solo401k , if eligible.

A risk with lowballing is another investor comes in with a reasonable offer around the same time and Seller doesn't even want to ask you for another offer.

It's against the law in some jurisdictions (OR, WA, CA and others) to even approach someone in a distressed situation unless you are an attorney, a realtor, or a registered "Distressed Property Counselor" and you can't benefit by buying or wholesaling the property.Equity Skimming and related penalties of sentencing are detailed in 12 United States Code USC Section 1715Z-19.

It is sad that no enforcement can even go after their fraudulent business practices. 

•For example, a listing with three price drops and 180 days on the market would be weighted less than one with 30 contacts, no price drops, and a quick removal after 30 days.3.Open Data:•Provide direct access to each comp’s details: price history, leasing schedules, photos, and even links to the original listing sites—all without leaving the platform.These three issues have been my biggest frustrations with current tools, and I’m building this out for internal use in my market.My questions to you:•Is this something you would want to see in your market?

Honestly 350 days a year I don’t even think about it. 12 days a year I wonder if everyone paid and if not will they pay, for about 30 minutes.

I came to the conclusion that a cash out refi was the way to go even though it won't cash flow great afterwards (it'll still be positive about $200/month).

At $10/hr thats $1600/mo so even if you spend $5k - get one deal its paid for itself.

Start there to see if it is even worth your while.

It all evens out.