The only negative, not ever seen the property, is the HOA.  

If you ever wanted to sit down and discuss market strategy, or bounce ideas off of each other, lets connect.

From my experience I don't think you can ever go wrong running your numbers at 10% just to be safe. 

@Drew McLaren  there is some exponential component on larger loans as you state howeverhere is how I looked at it over the 30 years of loaning hard money.IF your in a foreclosure situation.. the value of your collateral is generally not what it was when you started the loan..

I don't expect to be netting $30k in Louisville wholesale deals often (if ever), so 1-2% on profit wouldn't be much of an incentive for the lenders.

Would Realtors ever be interested in a payoff stream? 

If we can ever be of help just let us know.

I did a search on R.E. books and came across BP.com a week ago.I have been engrossed in the site ever since.I'm really glad I did.

Of course we would look to purchase further houses using this method, each time combining 5 deposits/leveraging other properties to put a larger dent in the loan that would be possible if I was investing by myself. 

Good luck with investing and if you ever want to talk over ideas I'd love to help each other.