Happy to advise if you need any pointers on where to cut the fat.

But for what it’s worth, based on the limited numbers you provided, the deal sounds pretty good. this happens all the time with the folks that set up self directed IRAS the big custodians just drag their feet letting the funds go.I would be more concerned about the deal.. that one sounds kind of wonky.. small towns ( commercial) that could sit vacant for a long time and this could be a big fat white elephant so..

As in, I'm not going to bother telling you how I came up with this number, but it looks nice and fat so that you'll be suckered into buying it then wonder why you don't make any money.If you can find a wholesaler who has legit comps that will land you at 80% ARV after you're done working, you've found a gold mine....be prepared to fight with other investors.

So now I was faced with a real challenge... how do I get leads organically, when I do NOT ranking #1...THAT is the question isn't it.For the answer I would need 3 goats, all virgins, a raccoon and a fat ferret!

But I'm getting too old and too fat to be crawling around in crawlspaces these days :)

You would need fat CASH to make this deal happen.

He sold a house in Sacramento with fat equity and bought a number of rental properties with the proceeds;  midwest properties with 50 years of flat line growth, that all have great cash flow. 

Originally posted by @Jill F.:At

I reviewed the preferred contractors invoice to the insurance, there are many inconsistencies such as, double billing (have recording of contractor stating they purposely double billed to be able to pay for his electrician), billing for materials/labor not provided, and oddly enough a big fat "management" fee for the electrician that I hired/managed and paid deposit.

It may be a good idea to look at all of them as rental properties where you also appear to be the tenants and see where you could trim some fat.