I'm just throwing out things that could become big ticket items.  

Some don't have the "reserves" AKA savings to replace "big ticket" items like roof or heating system. 

If so, accurate ARV and repair costs are even more critical.If you're looking to buy and hold as a rental, then you can usually get away with a less expensive rehab, and you're more concerned about cash flow than ARV - in which case you'd need to evaluate the potential rental income versus financing, tax and insurance costs very closely.The pending sale could be the contract to the wholesaler, and the July 2nd date is probably the date their contract and/or contingencies expire.

It is busy here year round which is great for local business' and property owners.

Now if you're lucky and only do one flip a year - or maybe two tops - you can get away with paying just earned income taxes (30%).  

You've got to be careful who you choose as a contractor because pricing for a lot of them will be whatever they think they can get away with! 

I'm sure if you made the place affordable and a cool place to hang out you'd have no shortage of customers from KC wanting to get away from their wives on the weekends and tinker with their expensive old cars or store an old Shelby Cobra or Plymouth Superbird. 

An area that's not as attractive you may be able to get away w/ going below list price.Sometimes the terms of your offer are more important than price- Can you close fast, with little to no contingencies?  

There is a meetup that i have heard good things about (but haven't been able to get away from my day job to attend) http://www.meetup.com/Real-Estate-Investors-of-Kil...

Also, there's a monthly BP meetup on the third Wednesday of every month at the Round Table Pizza in Lake Forest.