Just gonna have to wait and keep in contact with the seller to see if they become more motivated.

You would usually use wholesaling as a means with distressed property, motivated sellers, or highly discounted property's.

The listing essentially says "Motivated seller, 499k or best offer".

That's how you make money in pre foreclosure world but the laws changed in our states so you have to be pretty cautious how you do these and it was those changes that led to me abandoned this method of buying property.. but early in the process like mentioned above it was rare to be able to buy those.. remember your not the only one trolling these someone with a notice of default is going to get no less than 200 or so yellow letters and hammered by real estate agents for a listing.Along with the fact that they have probably lived in the house for a year or more for free.. so that motivation Is down the line.. and forget about fixing their credit at this point its trashed.. 

@Alexander Nason - it may also be worthwhile looking at a Fannie Mae Homestyle Renovation mortgage: https://www.fanniemae.com/content/fact_sheet/homes...Homestyle loans require a higher down payment for 2-4units and loan limits aren't as high as FHA in some areas, but I think this could be a better option long term if you can figure out the remaining down payment:No upfront mortgage insurance premium (1.75% on FHA)Cancelable mortgage insurance (once you reach 22% equity) We bought our 4-plex with an FHA loan and it has been incredible - 3.25% interest rate and 3.5% down on $700k would be really challenging outside of FHA, but my mortgage insurance is almost $600/mo. 

When it comes to hard money lenders do they ever work with other investors, for example if a hard money lender is going to lend 80% of purchase price and 100% of rehab and then you find someone who is going to invest the remaining 20% of the purchase price will they allow that or will they only work with you specifically.

His argument was leaning more towards remaining as a sole proprietor with liability insurance instead. 

There isn't a lot of value-add opportunity, but the seller is motivated.

Those can be the remaining fees due from lease or a flat rate (i.e. $500). 

After reading some of your posts over the years it's clear that your a very disciplined man we could all draw some motivation from.