I have kept a LOT of buyers deposits because they defaulted on an auction purchase.

My first deal was for a 225k house that was in terrible shape; conventional financing wasn’t possible, so Seller had to have an all cash buyer or come TO TERMS with acting as the financier... 

Remember that Hoa is is for the rest of your ownership and part of any sale to a future buyer.

I'm new to Wholesaling and am actively working on my cash buyers list as well as cold calling potential sellers through Craigslist (FSBO's). 

Then you structure something that makes sense for both of you that you can market to find a tenant buyer. 

I'm going to make the move to the commercial real estate arena, specifically practicing to become a tenant rep on the buyers side. 

Don't get me wrong, I've closed a few of these (in these cases the appraisal report came back only a bit different from what the agent/buyer described), and had a bunch die after the appraisal came back (when the report is VASTLY different from what the agents/buyer said to me, which is the norm), but due to systemic unreliability of information my position is that the price of a definitive yes/no is an FHA appraisal fee.Make sure you're working with a lender that isn't artificially restrictive, get it under contract, and get an appraisal going.

I have had some success with finding wholesale properties but not as much success in finding buyers in this area.

Accordingly, there is no title insurance for the buyer to look to here... so they'll be looking directly at you.

Here's another Flip, we teamed up with Liz Kazeva and PGH Property Buyer with this one on the North Side of Pittsburgh.