;) I bet the Bel-Air mansion is also in the name of a trust or LLC, and I bet it is in a different name than any other properties they may own ... rich and famous quickly learn how to become rich and anonymous, but the truly smart rich folks never seek out fame in the first place ...

I quickly figured out that wholesaling was also not too fun because you can work a lead for quite sometime and it can lead to nothing.

@Alex Deacon, thanks for the quick response!

When I finally got to the property, after driving past the many neighboring, beautiful, bigger, newer homes on acreage along the way,  I quickly realized what the "problem"  was (or at least one of the problems): a huge power pole, complete with a transformer high up on it, was located about sixteen feet from the front of the house, centered on the front door!

My point being is that the foundation can be repaired and one can find good deals sometimes if they know how to fix the foundations quickly and cheaply.

Maybe the seller is in deep with too many bills and has to sell quick and will take anything that is offered but doesn't want to offer it low in case someone is willing to pay more.

In recent years the area surrounding their house has quickly been developed.  

First deal to get my feet wet in REI but have quick question.In contract with a property that I expect will cash flow $70-150/month (10% vacancy, 10% PM, $100/mo comb. capex/RM); cash return of 7-13%, excluding what I'd pay myself to self-manage.2/1, rentable condition, listed at 52, offered 32, in contract at 41.5. 

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My buddy called some of his friends and let's just say they talked to the squatters and convinced them to move out quick and it worked.