Some are incredible homes of old money auto execs that can be purchased for a steal... or intern literally broken into and all of your stuff stolen.  

She claims that it was due to identity theft issues.

I trust them and the work is done guarantee, no stealing tenants belonging, nothing. 

@Dave Foster great way to explain a reverse 1031 - it always seems to confuse people and this is a perfect way to lay it out, I may have to steal this two-step explanation in the future ;) Thanks for always adding value, even us ol' pros keep learning from you!

One of the properties has been on the market for 5 months and the other 2 months, both are identical specs.  

I plan on sending it out relatively locally(so don't worry that I steal your business) to multifamily units and MHPs.

getting this at $80k would be a steal of a deal so unless the seller has some me serious motivation for accepting such a low offer, they are better served listing it with an agent and not going the FSBO route.In this competitive market, good luck finding deals at 70% less repairs, less your wholesale fee.

Never give out financial information or identity metrics at one of these events. 

@John Lewis Your numbers are almost identical to a purchase + rehab I once did.  

In that case, you got a steal and also created solid value with the rehab.Additionally, it's always good to be allocating for vacancy, but a lot of the times it seems most small time investors can keep occupancy at 0% if they manage well and are in a decent market.