Across the street is a new sub-division (built within the last 5 or so years).. 

@John Cohen almost exclusively single family homes, there's just not a market for multifamily here, most of the ones seen are previously larger houses chopped up, and occasional duplex.As far as what I've seen on the foreclosure lists, they're traditionally decent quality properties, in decent neighborhoods, definitely some potential for ARVWilmington is unique because as soon as you drop the mailing address, the prices are so much better, and the location could be too.

Hi @James Morgan, Welcome to BP.While real estate is a regional game, LA is a unique market compared to the majority of the nation. 

A coworker of mine gave me the opportunity to meet with 2 vice presidents of a commercial division in a large bank to help educate me on lending options I will have available to me as my career progresses, and assist in getting me started.

"I read this great article with some unique tips I think we could share with your clients."

What would be expected as far as profit division if I contribute the rehab costs, while they acquire the property and purchase?

My grandma is living in a retirement community based condominium, and wanted to leave me a unique ‘inheritance’ persay by selling her home to me for 100k.

As stated, I have developed a somewhat unique strategy where I am not so much targeting the distressed homeowners other wholesalers are.  

We found the renter this week, he filled out the application, and his back ground check and credit check all came in good.Here are the numbers:Total cost including repairs 77kRent $1750Interest payments to the private money lender until the property gets a long term loan $583Taxes and insurance around $150Maintenance/repairs budgeted $100Vacancy/turnover $150Monthly cash flow $767ROI 767 x 12 / 7000 = 131% per yearMortgage on long term loan for 70k at 5.25% for 20 years $472.ROI with long term mortgage 150% per year.ARV - because it is a pretty unique property it is hard to find comparables, but making some adjustments from other properties in the same area, I would put the value at about 195k as is.Please let me know your questions or comments.

That's how we got connected with Wilshire Fund, and thankfully we were able to close on a $10M loan @8% with 1 point up front – it was a very unique opportunity.