If none of your buyers told you which one was off, then you should assume you need to work on both.I tell new wholesalers this all the time but I'm afraid most don't listen: You should be putting things under contract for a price you yourself would be willing to close on, and you should actually have the ability to close on the property.If neither of those things is true, I think you're playing with fire by putting things under contract with homeowners anyway, knowing you have neither the ability nor willingness to actually close.

They dont do an appraisal but the do an in-the-house determination of the value of the house based on comparables, at no cost to me.Now, my current lender would only lend me the purchase price, then I have to refi in 6 months to recoup my rehab costs.Is this too good to be true to find a new lender give you purchase price and rehab expenses lended for 30 years at 5.5%? 

Originally posted by @Wayne Brooks:Also, the 75% is a loan Max, not 75% Plus closing costs.  99.99% true... mostly no one does it, but you can absorb the closing costs into the interest rate rather than loan balance.

What I'm generally looking for is for a filter or some software that can produce a true list of "For Sale By Owner" leads. 

@Steve HallI’ll respond to your points in reverse order because it’ll make more sense to our situation. 4) In my own naivety I thought we could get a discount if he stood to make as much or more by financing it himself.3) We are willing to pay 5% because of the assumed discount, smaller down, and no mortgage insurance.2) True, but we thought there would be an advantage by avoiding mortgage insurance and having a smaller monthly payment.1) Yes, we can qualify today. 

Being from a place like Los Angeles I was really taken aback by the beauty of Lynchburg and some of the surrounding areas when I visit my little brother out there.

Personally I don't want to deal with that kind of customers and there are so many nicer places in that beautiful country.

There is something beautiful about being debt free, too. 

@Sheena R Roth the rockstars know rockstars idea is true.

Now that values are quite a bit higher, it could be tougher, as the comps banks are using when deciding whether to approve the short sale, counter it, etc. are trending higher and higher (but might not be true comps to the property you're trying to buy).