Nice to be in her position, right?  

She was able to get the property back in her name by proving an illegal conveyance and because the mortgage note was in the name of the LLC, which had been allowed to dissolve involuntarily, there was nothing the bank could do to encumber her property again, since she was not the legal mortgage holder, the LLC was.Similarly, states like Illinois allow the formation of series LLCs, which is a group of LLCs which all share the same name and are designated by Roman numeral, I, II, etc.

Similarly, investing locally has an inherent advantage in terms of being able to truly understand that market or sub-market and the local intricacies like the back of your hand.

She said that she had been receiving several of these letters weekly and wanted to know what was going on in her neighborhood that was generating all of the interest.

Great to hear all the feedback from you guys - nice to know there's some love for Philly in here - and yeah word to your mother on that name of yours lol :) 

My understanding is that A properties have bigger potential for price appreciation, less property management headache, but in the same time have lower cash flow ratio; C properties have higher cash flow ratio, but probably have low/no price appreciation and inherent more property management issues.

You still get a good property, she puts 10s of thousands of dollars in her pocket.

What are some of the greatest obstacles to overcome when getting into wholesaling properties and finding worthy deals?

Her plan is to find other homes to set up for the women, allowing her to concentrate more on business and train some of the women to work with her in marketing, sales, etc, but until then, they are living in her house.

She actually just turned in her car the other day. ( she has 2 cars now for another 2 months) Her payment will go from $520 to $396.