I also get a 10% discount at HD/Lowes.My RE Agent supplied me with 11 COMPS but out of the 11 I only found 2 to be +/- 500sf, 10 years of construction and 1 br/baOf the two relative COMPS the sold price mean was $294,900 (I know that I need to pull more COMPS but it's a start) I'd be happy with $250,000 ARVMy question is does this property have good sweat equity potential?

Buying with cash, particularly if it is on a discount, allows you to use that cash on an unlimited number of houses...and in the end, you never have to actually spend it.  

Existing mortgages are the seller's problem, not mine.It's probably not enough of a discount to make a decent assignment fee for an investor buyer.

I think he said my paint was about $30 per gallon with his discount.

I negotiate with the lender a discounted price for the remaining balance of the loan,once that figure is agreed upon, sell the property to the new buyer.

Anytime I acquire a property at a HUGE discount, I get a waiver signed from the seller at closing stating they are aware of below than market value but it's in their best interest due to either time constraints , condition of property, or impeding situation such as foreclosureJust another paper trail to CYOA

  - both would be income plays only, as purchase prices are, as the others have said, at market, not much or any discount.  

Or perhaps you have a deep discount and the property has sat a very long time?

If your only spending a few thousand a year, don't expect discount below retail.  

Are you saying you'd like to buy a turnkey property from a flipper before it hits the open market in hopes that you will get a discount or first crack to minimize open market competition (that will likely work in the flipper's favor today)?