It sounds like you're receiving your money back, but it's still unfortunate you wasted your time on this. 

I have no idea what numbers to look at or even how to get this information as "practice" without unintentionally wasting someone's time.

I'm looking at an REO in Indianapolis, in a solid C-area, that would likely rent quickly for $800 (potentially more with section 8).I was originally planning to restrict myself to homes that would rent above $1000 at a minimum, to try to minimize turnover costs.

Or am I an idiot for wasting my time typing this up? 

Negotiation was minimal - the owners were quite motivated. 

Perhaps he's selling for financial reasons and I could then go back to him explaining that by avoiding some minimal effort such as calling insurance to deal with some issues could cost him big in the long run because when the market is sh*t in the next couple years (if it gets worse) he will have to hire a Realtor and pay 6% to sell it nevermind the fact that his house is at peak value right now (depending on your market but most places hit peak in 2018) and if he decides in a year he wants to sell it will be for less money.There is always an angle with someone you just need to find it, and sometimes yes it is very hard to do so.The worst case scenario is you get your money back and can mark this down as an 'experience' deal

You will lose money on this (hopefully you have the minimal resources for it not to bankrupt you) and for the rest of your life you'll tell anyone who listens that real estate is just a bad, bad, bad investment strategy.You jumped into a very tight, very difficult, very high-risk niche specialty without studying it carefully, without having worked with a more experienced investor, without a network and a team in place, without giving yourself a real chance to go through the learning curve.

Also we could offer amenities (pool, gym, etc) at a minimal cost to help justify an increase in rents.

@Ben Wiley @Fasil Khan @Russell Brazil regarding MD & NY, this is not a separate statutory license status -- "going referral" would likely mean that they are moving their license to a real estate license holding company, i.e. a brokerage setup for the purpose of minimizing fees to their licensees, including board and mls obligations.

Hi I’m new to wholesaling I’ve been looking at tons of videos and received great feedback on this site as well I’m ready to get started I don’t want to waste any time anymore my question is I found a vacant property in my neighborhood that has a no trust pass sign on the door how do I find the owner of the property and is it worth looking in to?