I avoid these small wholesale deals (especially after the one I mentioned above) because the taxes could make it not worth the while.Apologies if this is a newbie question, Im used to making more profit and expecting up to 1 year of property taxes max, getting a discount at the beginning, then playing catchup at the end, ultimately paying p. taxes for the time I hold and carry the property.

@Andy Mirza right I expected there to be no loan because after I asked him was he the owner and were any banks involved he said no banks but he had taken a second mortgage.

Do not expect the home in this price range and rent carry positive cash flow anywhere in the US.

These products usually move a little more slowly than a fixed asset so they can be great fail safe identifications for a 45 day identification list.The biggest obstacles to these in general are unrealistic investor expectation of return in the wholely owned sector. 

I am expected to receive a lump sum of monies soon and want to put some of it towards our first investment property or any real estate investment.

There is a lot of work to be done on both purchases, and I don’t expect to see a dime from cash flow for a few years.

For example, in Columbus if you pick up a $40-60k SFH you should expect it to be in a C class neighborhood and rent for $700ish/mo.

I certainly don’t expect to make this kind of ROI, 20% is more realistic. 4 years ago the MLS still had some deals even in the Denver area, however that has since dried up and I have a plan on obtaining off market deals.

I work with a company called Quantstamp that does auditing of smart contracts, and I can promise you that they are a lot less foolproof than what you would expect that they should be.

Get more trust out of your investors first by being performance based and then when you're more experienced, everyone will expect a certain level of service and will be more comfortable with something different.