The NPV is the Net Present Value of an income stream, discounted to the cost of capital (or required rate of return) and the IRR sets the NPV function = 0 to get a rate of return.

The idea of pooling money with like minded people is very appealing to me.

So keep in mind that perspective and timing have a lot to do with you perception of a market.  

Keep in mind you will likely need to open a few interior walls to pull it off.

I don't mind answering any questions you might have about our market also. 

After reading many books I believe that I know the fundamentals but would love the chance to sit down and pick the mind of a seasoned investor and/or anyone that has ties to the wholesaling business.I believe that my first hurdle to jump through is learning how to evaluate after repair values as well as repair costs.  

I will keep it in mind if I decide to move forward. 

If this isn't what you thought of when the idea of REI popped into your mind...well...RUN.  

This thread is expanding my mind and I love it.To the point of the whole thread, I think it's always a good time to buy good deals, but in some market cycles they are harder to find (now).

A few options come to mind: You can ask the seller to reduce the price and see if they are willing to negotiate.