Quote from @Nate McCarthy: @Jake Andronico, thanks for the input--I agree that any deal I would propose would have to be compelling to the seller, hence this think tank!

Only caution is if they don’t have checkbook control and there’s a time crunch going through the custodian can cause delays and red tape to deal with.  

As others have mentioned, you typically need some liquid capital to get a deal done even if a hard money lender was funding 100% of the deal for you. 

The US Government and the States have but one way to deal with this, taxes.

Congrats on getting the deal done, Devan!

Here is an upcoming LA meetup with 29 wholesalers going:http://www.meetup.com/Los-Angeles-Real-Estate-Deal-Maker-Sessions/events/227145543/

Deals like this, with additional income potential (garages, ADU, etc.), could help you cash-flow while you build equity - best of both worlds.Lastly, targeting properties that have been on the market 30+ days could be a good start.

How did you finance this deal?

Yes, the more deals you do, that are profitable, the more money you make. 

tell me more about the deal we are doing the same thing this year.