By "any", my guess is up to 20% below approved price - but who knows?"

Asking price is $57,900.00.Seller purchased for $64,000.00 two years ago and spent $10k on improvements.Comparable rent in the area ranges from $800-$1100 per month, but most seem to rent for right at $1000.00.Asking price is on par for recent sales in the area, if not a little below FMV already.

While I've yet to find a wholesaler who can find a deal on the MLS that I haven't seen or be able to provide one to me at a price below what I could have purchased it for myself, if/when this does happen, I'm happy to pay the markup as long as it's a good deal.What I HATE is when wannabe wholesalers tell me about a deal on the MLS that they don't have under contract, and expect me to tell them what I'd pay for it and whether I'm interested -- they don't seem to understand that they add no value if they don't have the property under contract, as I'm almost always aware of it already.

I build in a first $100 is on the tenant for something that breaks besides obvious stuff like Ac unless negligence from not changing filters to the roof leaking.

Also, we have realized that everytime we get a 'good deal' on one of the houses on the street (below PVA and market value) it helps on the next purchase on the street because it is a lower comp to compare to and justify the lower offer/purchase price.

In the short term you own real property that you purchase now at low price, well below "market value"- these establish you as a local landowner and provide other credit benefits as well.

Investing in today's real estate market is hard work, there are a lot of people trying to find houses to buy way below market value.

Well here in Northern CA, many of the auctions open up well below what is owed, and some open at what is owed, even if it is well above the value of the property.

Assuming that $2200/mo. is at or a little bit below the market rent for the property and not overpriced, then $400 sounds like a steep drop in rent.

As to why to do it...To me, it's all about leverage... at this interest rate; at, near, or even below inflation...