I regularly approach home owners facing foreclosure.  

They will then face the expense of completing the project themselves or wholesaling it, probably, at a large discount.      

I rented it that day though my overhaul wasn't  complete (floors pulled up, counters bare, half painted)!

You cannot beat that guy or his real estate agent.You must market for motivated sellers and attract unlisted properties where the owner sees the benefit of taking a cash offer rather than putting their house on the market, which could require them to make costly repairs with $ they don't have.I like 3 methods for reaching the off-market, motivated seller:1) Direct mail, to people WITH EQUITY, especially absentee owners2) AdWords (Google Search marketing)3) Outdoor (billboards, bandit signs, bus signage, etc. etc.)Click on my FACE in this post and watch the video in my user profile here on BP - it's called "The Search for Motivated Sellers".  ;-)  This is THE #1 CHALLENGE for all of us.  

I was not going to trust the cheap face masks with what I'm worried about is down there.Appreciate any advice you can offer.  

I know many folks only concentrate in one location and may not face the questions I have. 

I would much rather refi a sub2 and continue to act as the bank for a good tenant/buyer, than assign the deal away for a few thousand bucks only to hear that they fell on their face a year down the road.

Check this news story out:Chicago Faces $2.2 Billion Bank Payout After Rating Cut to JunkThis kind of thing really scares the heck out me and I want to find out if it does for other investors too.

It is actually built like a rock b/c they used true 2x4's and I believe they are oak, so hard you can barely drive a nail in em!!

I'm trying to get my name and face out there so everyone knows what I'm doing (pretty standard).