I, along with a business partner, are beginning to take serious steps towards finding our first deal through all the same conduits only to be disappointed (we are not surprised by this).

Study and research most of cities/states now,it seems we are in seller market now?

Also, we are holding a Portland based meet-and-greet on October 11, in Northeast.Good luck to you and feel free to contact me if you'd like to get together for a coffee or lunch sometime.

We are seeing the same amount in most areas unless the property is overpriced.

The other part of wholesaling that is a possible red flag is Equity Stripping, AKA Illegal Flipping, this was heavily regulated till a few years ago by lenders, especially M.I. companies, they have relaxed the rules, but was a problem pre and post crash. seeing the increase in this activity seems eerily familiar,  like 2007 all over again. just be careful especially with your license, Disclose Early, Often, and in Writing, My license is too valuable to me to be involved in this type of transaction, so i steer clear. if my entity is on the contract, I am the one closing. period. 

Flagler place use to have a bunch of crack houses and now we are talking about over $1 million properties there.

We are in the same neighborhood and there are quite a few BP members that meets regularly Des Moines, Seattle, Lakewood and Bellevue, WA.

Since we are selling it to the LLC and/or transfering it (as a capital contribution) Would basis be FMV or adjusted basis considering depreceiation? 

@Jerry Morello We are happy that you have joined BP!

The market in Utah is really hot right now & as much as we are trying, we are not finding any buy & hold deals with good enough margins.