They may be motivated, but they also might have misconceptions about what they can get for their property.

What's the misconception here?

Do you have the funds for the down and repairs, your newness can be cured with a contractor, but you may not have time to get all the ducks in a row.I'd suggest you look for a cash buyer and try to partner, now that the owner disclosed to you and you have broken through the dangerous waters if the owner doesn't have misconceptions.

Seller Carry Back Note — Inside or Outside the 1031 ExchangeSpecial planning is required when you intend to complete a 1031 Exchange and carry-back an installment note as part of the 1031 Exchange transaction.The common misconception is that seller carry-back financing and 1031 Exchanges can not be used together and are mutually exclusive. 

Your comment on toilet overflow calls is funny...it is a common misconception from non-real estate investors. 

I think there is a big misconception that the agent licensing process will teach you about investing, but it really doesn't.

That is essentially the definition of a broker, no it is not a real estate broker or a licensed mortgage broker, but I never made any statement or claim or misconception that I was either one of those. 

Account Closed A common misconception is that all commercial loans have balloons. 

Also, there is a huge misconception out there about mortgage fraud and using vacation homes for STR.

So this is a common misconception about wholesaling.