Rather like these two prior comments and echo Robert's idea that maybe your ideal spot is an owner occupied multifamily (2-4 unit); and as Ricardo notes, the wholesalers I read about on BP seem to work quite actively.

Use the calculators, but massage them a bit so that your MAO hits your sweet spot.... then take that figure and compare it to the ARV and you'll have your new MAO %.

Hey Everyone,My name is Jake and I'm a 27 year old civil engineer here in sunny San Diego, CA.I moved here from Cincinnati, OH in late 2012 (parents/extended family still live there) for a job opportunity and have managed to save about 50k which is unfortunately not nearly enough for a down payment in SD. 

Donell Cummings A few good starting rules of thumb to spot the scams are as follows:1) single digit interest rate2) no fees3) no down payment/skin in the game.If it looks too good to be true, it absolutely is.

Nice. 28k will get you a parking spot in my town.

Spot on.A few additional thoughts: The entire situation sounds strange.

The only other spot left is a door opening to a hallway and vinyl tile "rolls" over it. 

The one party who wanted it would then apply and pay the refundable holding deposit on the spot.  

If you can find something reasonable, I think it's one of the most promising spots in town. 

Not every flip is good spot to use them, but it should at least be considered by any investor that's about to recognize a sizable gain while also being subject to a very high total tax rate.