It instantly has an appeal and a way to generate income.

I've heard of that instant 30-day after you buy it, but I would consult your attorney.

Best to always buy properties that give you instant equity gains after repairs. 

People speculate that we're "in a bubble" right now, just watch and see what will instantly happen if this comes back.

This is a guess on my part:  since the bank knew that the home was going to have instant equity, they ordered the cost appraisl to make sure adequate insurance was purchased.Also agree with everyone on this thread that if something doesn't shake loose or new info come to the table, then it's better to walk away.

I am very excited to amp-up my real estate investing and stop relying the W2 paydays. 

Account Closed  while I understand your sentiment you also live and work in a market with excess housing.. houses that cost less than cars etc etc. .plus of course you have high end homes.But even dogs in our neck of the woods are 250 to 400k same thing you would pay 10 to 20k for in areas of Baltimore.. what works there does not work on the west coast.. while some of what you mentioned is certainly tried and true RE one oh one.. just a little different setting here Is all.Mary, if your serious about this you NEED your license just the savings when you buy and on the list side will create huge amounts of profit when your working in our markets.. plus you get instant access to MLS and you don't have to rely on anyone.. for the life of me I can't understand who anyone would not think its a benefit to be licensed in our market if your intent is to buy and resell homes that are in the 500 to 1 mil plus..

With little work its bumped into a class selling for 30k-$70k more instantly making it a great flip or BRRRR candidate that would allow me to collect another $200-$300 in rent per month.Another 2 bed/1 bath home had a huge master that was going unappreciated. 

However, I believe 920$ per month with nearly 0$ of my own money invested and upwards of 60-80K instant equity would have been a pretty good deal.

use ACH transfer or popmoney/instant transfer via their bank........ venmo, paypal,  etc etc etc.