The seller has had a buyer approach him numerous times attempting to buy everything but he continues to decline all offers.

Maybe the wholesalers have the right idea and the direct marketing approach is the wiser path - to create deals instead of waiting for them to appear.

this is my second 2 lead in my whole lifetime lol, i just left a paper at his door yesterday when i was "walking for dollars" yes walking, wont have my car for a few weeks. but im glad i have something.just checking out how can i approach this and get the best out of it, i would love it to buy and hold but dont know any hard money lenders, what do guys think? 

I usually will approach saying I was looking at the house for sale down the street or around the corner but was wanting to see if you’re interested in a cash offer.

But I would argue that especially if you follow the BP LEADS  funnel approach, you're going to be looking and vetting a ton of deals before you find a diamond in the rough and engaging a realtor for 100 deals before one is purchased. 

These are VERY different and require a very different approach and skill level.  

For appraisals, you'll need to look at comparable sales.For your own analysis, I'd recommend using the income approach to evaluation. 

I'm not sure if there's a problem with that approach and would like to hear other opinions. 

Currently I am approaching COE for a $180,000 home, and for the few months that my company will own the home I will pay around $2,000 in fees.

He's taking a conservative approach and living in the property for a year or two before renting it out.