I am a small player compared to the hedge funds out there.

arbitrage in the right market with the right players can work very well..

I have no skin in this deal or relationships with any of the players, so I'm not interested in talking to him.  

I also know the courses contribute to the expense of running the REIA - or the dues would increase quite a bit.That said, real estate can be difficult to break into- especially if you don't know the real "players" .

The seller is not disclosing a reason(we have asked) they are a big player locally and purchased the property in 2003 for 300k.

It sounds like you've been in this world before and understand how the big players play.

Look for MF meetup groups to start learning the market and players.  

You need to know all the players and their motivations, what they want out of this deal, and how you can balance those desires with your own goals for a successful project.

For the last year or so we've seen some key deals made downtown by Prudential and other big players.

Know who ALL the players are before getting involved.