Now the bank wants to keep my earnest money if I can't close by Friday and I will loose a great property.I was stupid and didn't use the financing escape clause and did the contract with Cash although the letter of credit states that it is based upon property condition, appraisal etc, I also put an clause in for subject to inspection and appraisal meeting buyers approval.

I agree with Jason - this is not a get-rich-program.

If the homeowner chooses not to present any other offers...............Mitch, you will notice that on most listings now in Porland that we change the listing to state "seller has already accepted an offer and is awaiting third party approval".

You will need a Pre-Approval letter from your lender at very least.

Hey Jim, I am looking to buy this program. you still use it? 

This is what it looks like.6plex Sales Price $325,000 Loan Amount $260,000 Interest Rate 7.125%Term in Years 30Loan to Value 80.00%P & I $1,751.67(This loan is through an Alaska housing program for which both this property and I qualify for.)Total Rental Income $57,600 Less Vacancy 10.00% -$5,760Adjusted Gross Income $51,840EXPENSESTaxes $4,584 Insurance $2,580 Utilities including Refuse/Cable $9,661 Management $4,725 Maintenance & Repairs $1,000 Replacement Reserves $1,800 Miscellaneous $1,000 Total Expenses $25,350 Net Operating Income $26,490 Total P & I $21,020 Net Cash Flow $5,470 = $455 per monthI know that the cash flow doesn't look that great with the property management cost but it is required to be factored in for this program.

Curious, how do you find is the most productive way to find good wholesale properties (leads) which have enough equity to allow for you to do your program of getting rehab estimates then whoelsale?

I am a student of the Short Sales Magic Program with Tom Butler in Pre-Forclosures.

I am compling info and he is laying it out/programming.

Also, the city got approved for a major revitilization last year and once that is complete can also mean major appreciation for real estate in the next few years.