Right now, the buy-in is so high in NJ, they are locking up deals at prices that aren't sustainable and chasing spreads that are way too big.

What made you interested in investing in this type of deal?

I'm looking to get some insight on reasons why this deal isn't moving if the numbers makes sense, however it's in a really challenging Southside neighborhood in Chicago.

The right deal will do well!

I have been voraciously studying and planning and implementing for the past four months and have just completed my first wholesale deal (closes a week from today). 

I wouldn't leave it until Nov to deal with the drywall especially you are in an area where it is warm and humid (mold can grow quickly). 

these deals are done with your commercial banker .. they are not something that is advertised or talked about.. its why I keep all my accounts and my affiliated companies accounts at my commercial bank. you need to be able to talk to your personal banker and that banker needs to be in a Senior position.. thats how it worked for me.

Its hard to find a good deal in Grand Rapids right now, but when you do, don't delay.

How much money do I need , what licenses , where to look for off market deals?

Off MLS deals arnt going to cash flow any better than on MLS deals in MoCo.