For instance, in Texas we have the Texas Education Agency and you get can get all sorts of school accountability and performance ratings for all sorts of school districts and individual schools through out the state.

You not only need to know what the ARV of a property is, but you also need to know how to accurately evaluate what the repair costs are. 

I sell re-performing notes and once I get them re-performing I usually offer them for sale at a 10%-15% ROI.  

There is a lot of Wholesalers (I will agree) who get into the business that have no idea what they are doing, and in turn, perform illegal acts knowingly or unknowingly. 

If there are no concerns about the property losing value or neighborhood turning, or maintenance issues, and assuming that the property is performing well, I would hold.Maybe you will find something you like better *as an investment* and that will perform better and reduce your risk. 

What are the ramifications should you own the note, aren't able to modify it/get it performing again, can't get the deed in lieu, only left with starting the foreclosure process, and during the process the occupant declares bankruptcy?

Hands on experience lets me make an accurate assessment of repair costs.  

What are the ramifications should you own the note, aren't able to modify it/get it performing again, can't get the deed in lieu, only left with starting the foreclosure process, and during the process the occupant declares bankruptcy?

I have gotten low as 5% from a very professional management company, but my rents were $2k each and they had several of my properties.My manager does not charge me fees when they go to the property, but their maintainance contractors do if no work was performed.

My plan is to use an HML to fund the purchase and rehab costs so I'm trying to get an accurate estimate for closing costs.For example, if I use an HML and the purchase price is $50,000 with a rehab costs of $50,000 for a total loan amount of $100,000 (I understand it won't be 100% financed, but I just want to keep the numbers easy), is the total for the 3 previously mentioned costs $1,500 or $3,000?