If you purchase one in addition to that, it could be a waste of money (aside from piece of mind) as the bank's appraiser will produce the report and value they find.

Those extra days, if nothing else, will in effect draw out the process and "lengthen" your inspection period.Good luck.

You might get the $5-10k up front as a down payment but that could be eaten up by these repairs/lost rent.In the long term you might make a few more bucks, but the risk is much higher and you have a downside to potentially have to put cash into it to get rid of it, whereas you know your downside with the wholesale deal is $0 if you don't close it.Also with the new Dodd-Frank rules in effect, make sure you understand how those might affect lease options before you jump into one - there are many well researched threads on BP addressing DF right now .

I made it pretty clear that it's an option in CA and the effects, yet some can't or aren't follow(ing) what was said as to audits, probably because no one here has ever done an examination audit.

If sold on an installment sale, the balance of the purchase price ($57K if sold at $92) will be taxed only when received at the long term capital gains tax rate in effect for the tax year in which installments are received.

They want to 1) get a commission 2) not 'waste' too much time putting in low/no probability, low-ball offers if they can avoid it.

This is why I think flipping will provide the money to build the investment portfolioTis is my view, but I am a business owner and my end game in real estate is to be able to go on vacation and not have my income effected.

Not a big deal to work around but your contract may not be the effective contract. :)

I have wasted more time weighing my options, that I could have had something by now!

If you attempt to "target" and"follow" specific properties through the entire process of pre-foreclosure waiting for auction you will waste TREMENDOUS amounts of time.