SOS, these were where you could purchase from a website instantly.

even better if they need a lot of work, if you get it for cheap fix up and rent you can build solid equity in the property and cash out for a big payday.

The bank orders an appraisal (you are hoping it appraises for higher than you bought so you can pull your money back out and then some to rehab) and you can instantly refi or you can negotiate a construction loan (interest only) for the property and they will appraise the property as you have already done the upgrades/rehab to it. 

We purchased the house below market value to get instant equity in it (~$15k). 

The terms and interest rate are very fair and with a lot of hard work you can build instant equity.

I listened to the podcast and instantly got hooked.

It is too early to tell, but I'm sure big cities like LA city will make a "standard set" that will be instantly approved by their building dept, by that it is much easier to follow and lesser time (meaning less expensive) to pull permit, might be over the counter.

Paint is the cheapest and easiest way to make a place look nice.. paint walls, also paint cabinets/vanities and add new knobs will instantly make it better!    

Thats certainly enough money to put at risk a guaranteed payday.

Also if you buy right, you can utilize instant equity via line of credit to go towards your next down payment.