I would call some local leasing brokers in your area before you have any non-refundable earnest money to get an idea of the tenant demand for something like this and if you are new to retail leasing/investments I would highly recommend you hire one of those brokers to negotiate the lease for you.

It was intended as a fix and flip, and our original exit strategy was reached. we bought with hard money then did a refi to convential because repairs became drawn out and rented for some cf to by is time. we ended up selling for 405,000 and our loan balance was 235,000.

He has no money.

@James E.Hi James,I'm not a wholesaler... just an investor who has dealt with wholesale deals.My broad perspective is that wholesaling is a marketing job - where the wholesaler (on the surface) is trying to help a seller, but ultimately is trying to do that in a way that ends up costing the seller more money than it should have, had the seller taken more traditional means to achieve that sale.  

Hi @Max Fajardo sounds like you may qualify for low money down conventional which is a great way to go.  

CA does offer some great opportunities to make money.

., etc.) will not increase your opportunities for attractive financing and typically restrict you to the private money market (low LTV, premium rates and higher fees).

Do you guys think It might be too much money chasing too few offers? 

well this one sounds like if the info is accurate money was collected and just absconded with. 

people are funny.. complain about RE making 4k but will buy a rehabber house from a wholesaler who puts up no money takes no risk and walks away with 50 to 20k.. and think that is fine..