I would also send the insurance company this same letter and tell them they are going to be responsible for the cleaning and repair cost.

Wholesaling is a great low cost way to make a lot of short-term cash, but it does not build long-term wealth.

...And what the buy-in cost is?

@Matt Smith generally speaking it’s a combination of rising interest rates which have caused cap rates to increase (thus wiping out equity), debt is resetting at higher rates, rising opex costs due to inflation and stagnant or softening of rents due to an increase of supply.

If you are raising money in a syndication raising less than $1M can be challenging due to the setup and ongoing costs to manage and run it.

I've seen the actual cost to be around 15%-20%.

With $15-20K liquid, focus on lower-cost Midwest markets where down payments stretch further. 

For calculating IRR, use the total cost of acquisition—this would be the mortgage balance plus the 50% buyout equity and any closing costs.Regarding refinancing, assuming the loan under the Garn-St.

How are you planning to fund the rehab costs?

Thus, when a foreclosure sale is held, you can set the bid amount up to the amount of the total debt, which would likely increase from 80K to include the legal fees, receivership costs(we suggest 5 - 10% of the rents collected), repair costs, additional accrued interest, minus rents collected.