I want to fast track my education and would like some hands on training. 

If the seller was willing to drop 33% that fast, maybe they will go lower, or maybe there is something off.  

In my market, Los Angeles, these properties go FAST.

You really need to act fast to prevent mold...48 hours if I remember correctly.

@Laura Alamery, I guess where I get confused is where it changes from a JV with no SEC concerns to a syndication.  

If you want to sell it fast take it to public auction.

Creating an LLC from the get go and purchasing properties through it would exclude you from utilizing this financing.I run a $40 Million portfolio in the Cleveland area & I can tell you even at that scale the risk of a life changing lawsuit is incredibly low, especially if you are acting like a responsible property owner.

I wish there was a mega-spreadsheet, crowd-sourced (by the members of this community for instance) with the very updated status in each city based on the real host experiences...What's your way of checking cities fast?

MLS properties are typicallyblisted at, close to, or even above market value.Giving you info on my first 10 flips and how I acquired them would be useless since it was so long ago and times and the market has changed.

These same homes now sell for over $200 / sqft so things definitely change.