HI all,I am a postdoc. have been on a fellowship for 3 years. just got and other fellowship. it will last for 3 years. starts on Jan1, 2016. just had my pre approval doc send in. they said i cant get approved, unless i can have a property closed on Jan1, which is not possible, since i did not start to look property yet. all suggestion welcomed.Thanks first.

I believe most wholesalers avoid REA like the plague and get deals directly from the seller or those in pre-foreclosure.

Do you guys tend to get mortgage pre approval before making an offer?  

If you decide not to refi it, you will have much equity and good cash flow, with a pre-made exit strategy as well. 

The taxes seem high at $1,200 for a 30k house, so that will affect your annual numbers.You should be able to make a few grand a year by renting, or you could offer an option to buy at 40k after a year or two and roll the total profits into another deal.

I plan to use list providers to create my lists and one I am working on is homes that are in pre-foreclosure or foreclosure prior to auction.

(not specifically this company, but anyone using a like business model)After reading some topics on the website seems as though you it would be easier to be pre-approved for a 203K before even finding the peoperty.

Your student loan debt is being serviced from after aftertax income, so that 6.8% needs to be adjusted for your marginal tax rate to yield what you must actually earn to service that debt (could be closer to 9-10% pre-tax).If you have forced appreciation in the house and it will appraise for 135K, you may be able to pull additional equity from the home to pay down (or pay off) your student debt ... effectively transferring your student loan (6.8%) to your mortgage (4.x%?).  

Every hard money lender I have used functioned similarly to a traditional lender in that they want you to get "pre approved".  

As someone that does property management and does rent roll analysis basically daily, giving an incentive to residents is a good thing, it fosters a positive feeling from your residents that they are appreciated and it fosters a positive cash flow for you on time.