Last year he paid $968 for necessary repairs on the property.

As far as the condo goes, the market is so wild right now, and the inventory so low in the bay area you can probably sell your condo now for a profit, despite the upcoming repairs.

So it's not outside the realm of possible that she may be motivated to sell on contract.Aside from the financing, I had it figured this property may need $7000 - $12550 in repairs (basing this off the size of the unit they said needs rehabbing, and estimated cost of making each unit on its own separate meter)My QuestionI know I need to do some more work on figuring out the financing/purchasing, but I think I could make it work in this range. 

If you do all this and the numbers (purchase plus repairs plus wholesale fee) Aren’t 70 percent or below ARV, it’s not a deal and you need to drop it.Most wholesalers overestimate ARV, underestimate Repairs.

The building cost $699k and needs around $200k in repairs.  

Sounds like the difference between asking price and after repair price.

What if there is an extensive repair needed?

Also, I have about 25k for repairs etc put away. 

Mostly just need to replace drywall and paint, new carpet and some minor bathroom repairs.

You may qualify for exemption, but definitely check it out as that could cost you way more than the repairs if you are in violation.