There are a few types of people who will buy your end of line flips….1) Those that will only buy truly safe … battle born… “equity the day I buy”.. opportunities And/or2) those that were trained to see real estate investing as a much more risky “ investment”… in other words  “ a buy that “SHOULD” have value after appreciation”With Buyer group #1… if you provide truly investor grade deals that haven’t been stripped of most of the equity before you try to flip, you will build a following of investor grade buyers that WILL pay cash and CAN close “ as soon as the title search is done”… This will net smaller nets for you initially , but you will own a REAL Buyers list… that WILL have the experience… to REALLY CLOSE ASAP.And that will make your machine run MUCH more smoothly.Or2) you can initially max out your net on a few deals as you scape out most of the equity for yourself… but you will only be working with non experienced buyers.. who will buy ….one… realize that they are in WAY too deep… have no B plan.. and they will be FAR less likely to buy again… AND they may never even make it to your first closing .So.. your choice… cultivate a crop of GREAT slam dunk , low work load real buyer investors…. where all you need to do is find the property , mark it up a LITTLE ..and we do all of the rest of the work…Or sew a crop of weeds…I do spend a little bit of my time asking wholesalers to take me off of their lists.I would love to buy from you.I don’t want to spend my time doing the initial marketing.I am willing to pay for your valueBut I don’t buy properties that don’t have TWO exit strategies1) enough equity AT CLOSING so that, at the very least I could sell it TODAY without taking a loss…..AND2) after my expertise …. 

I may lose a few thousand but if your vacant a month it’s a wash and I never worry about the house or if the checks coming.

Either way it will eventually it'll wash out.

Just adding a couple of things for you to consider to add to your research - Regarding the basis step-up, you're correct that under current law, your mom holding it until her death may allow for you to receive it with a full stepped-up basis, washing out all the appreciation during her lifetime. 

It’s run by a political machine that is bleeding it dry.

I was in Nudges office a few years back that was or still is a big outfit.. talk about a money machine holly cow. 

@Lisa Marie and others, Some REIAs are good and some make you feel like you need to shower to wash the sleaze off.

No broker fees vs. going under contract below FMV to induce the assignment seems like a wash, no? 

I guess he knew my attorney solved the problem he refused to solve so why not wash his hands of the matter.

I’m sure that has all washed out by now and the chances of negotiating just a “short pay off” (without a sale) with the second mtg is incredibly thin.