To wholesale them you need to get them under contract well below the listing price.

We have found that while the cash flow proformas may be lower in these areas, we have a higher quality of tenant (lower vacancy), higher quality property (lower maintenance) and stronger neighborhood fundamentals (more liquidity and appreciation potential).All in all, this product appeals to the investor base that is looking for a more stable and quality investment than simply the highest rate of return.I hope this helps a little and look forward to the continuing the dialogue with this group.Best regards,Michael Finnhttp://www.meridianpacificproperties.com/

We're lucky if it gets a few degrees below freezing around here.

And I'll make over 10K on it with a list-price set well below comps in order to sell it fast.

However, such a small price, your loan amount may be below a bank's minimum loan amount, so better call and ensure you can get the money before you contract, and/or make your contract subject to financing with your down payment.If this is a rental, you might ask the seller to finance this, since the loan amount might be hard to finance conventionally, that means he may need to finance or wait for a cash buyer.

Because your unlevered CoC is below the rate of your loan (4.5-4.7%), you are actually creating a negative spread by taking out a loan.

I'd like to start off by thanking everyone who took the time to take a look at what I've listed below and offer advice, thoughts or even flat out discouragement!

Below are some of the reasoningMy Mentor was flipping in the Bay Area about 3-4 years ago but found it cost prohibitive to accomplish goals and a establish repeatable model Arizona also has a better upside for cash flow, which comes in handy if for some reason you are unable to sell.

Read, read, and read some more -  along w/the some of the books recommended by Bigger Pockets and other users, I'll recommend below two that I've found significantly beneficial even though I've been investing for 12+ years."

I obviously want to find one below market value.