Of course, it always depends on what your purchase price is and Dayton does have cheap homes! 

@Nick Henry this also comes down to how much time you have available and how much effort you are able to put into purchasing a home or building and doing renovations and then finding quality residents to live and take care of your asset.

It burned to the ground a week after purchasing.

It allows you, the wholesaler, to transfer your rights to purchase the property to an investor.

For a purchase generally application would be to review an ID, asset statements, and LLC docs if neccesary. 

He negotiated a $5k discount on the purchase price, and I moved forward with the deal.Fast forward to now - after seeing water in the basement, I hired a professional to inspect it, and the news was not great.

Your goal is to plant the idea in their mind and create a situation where selling to you feels like the easiest and most logical solution for them.If you haven’t already, the first step is to get pre-approved for a mortgage so you know what you could afford if you were to purchase the property conventionally.

Step 1: Ensure you can get financing (is it a cash purchase or will you need a loan). 

Purchase price: $110,000 Cash invested: $30,000 Hobby Farm On 10 acres2300 sq ft house with 8 out buildings - Large Barn, Animal/hog barn, Mid-size machine shed (2) 25' x 35' / 30' x 50', Large Machine shed 60' x 60', Grainery barn, Entertainment Barn, 3 car garage What made you interested in investing in this type of deal?

If you are coming in with 235k, you probably would not need much more, if any, to make the purchase.