@Brian SinclairI don't know if it fits this low-priced deal is a good fit butI like joint ventures with sellers where 70% of ARV is just too low, so the seller always rejects itSo on alternative is to do a joint venture with the seller, give a note with no payments for four months, now you're on title, you fix it, then resell it, and pay off their note when it resellsExample, $200,000 house, 20,000 in repairs, 70% of ARV minus repairs is 120,000 net to sellerFor the joint venture, figure 10% for resale costs or $20,000, add in $20,000 repair bill, add in $2000 in private lender interest, and a joint venture fee of $10,000 for the real estate investorThis is a better result for the seller, netting the seller $148,000

Sounds like your not yet ready for these if they are bank owned or controlled. 

#1 covers what could be a normal market in your area, or things out of your control - a bad recession, neighborhood disruption (construction, crime spree, etc) - without any money out of your pocket. #2 covers a catastrophic issue in or out of your control that makes the entire structure uninhabited/uninhabitable for at least a year. 

@Andrew Wong  good luck on your ventures.... the Turn Key industry has really risen up in the past 10 years...

One big qualifying question I would have is, "are you familiar with the local rent control laws?"  

I am not referring to properties where a LIS or NOS has been issued but the owner still maintains control of the property up to the time of sale. 

We have also partnered a couple of flip deals with a local wholesaler and always looking for more ventures.

I'm a licensed agent in Florida, have rehabbed my share of houses, and have assigned at least 100+ contracts over the years, but have never tried to control a property with a lease option. 

Welcome to the site @Caleb Friberg glad to see you are on this platform absorbing the knowledge.I wish you the best of luck in your venture 

Hi everyone,I have recently started venturing in the REI world with the goal of replacing my full time employment.