I think it would serve you well to interview 3 recent buyers in the neighborhood to understand their buying mentality then look at 3 homes offered for sale.

My $0.02 ...Our children are so indoctrinated in the consumer / employee mentality by their own home life and the world around them that is seems only natural for the more astute among them to seek sites like this where they can learn about "the world 'out there'", "the real world", etc.Our schools are woefully lacking in financial education as compared to countries in Europe and other nations in other places.

(I'm figuring a deal might be struck at a selling price of 1.4 million give or take)I don't have the $500+K to go conventional financing, but do have $50K to put towards this deal.My inner voice is saying, "That's it, you're crazy and I'm checking you into a mental health institution right now."

I guess I am simply finding myself struggling to free mental space to believe it's actually possible to become "financially independent" , and not just another pyramid scheme, book or, no offense intended "social networking site" etc. 

Many people have the same realization as you, "that real estate makes money" however they let minor obstacles and personal mental blocks stop them from ever competing their first deals.This is a great site to network and learn from.

It seems like from people who have a "rich dad" mentality the general consensus is to stay put and start investing.  

I think there's a sort of feeding-frenzy mentality when it comes to a lot of these wholesale "deals."

I have already talked to HOA, no outstanding balance as of Dec 1, no rental restrictions, etc...I don't want to be seen as "the guys who asked all these questions" and get eliminated because of that.But once they put ink on the offer and have accepted me mentally as the buyer, during my 15 day inspection period I can make them and the listing agent aware...from the angle of me trying to do all I can to save the deal and not waste time.

Anyways, I tend to see the rehab cost and mentally add on 5k or so, conservatively, and by the time I'm looking at their MAX arv, there's only a $10k-$15 spread left.  

Now $250 feels like a steal, so sometimes it just takes a bit of time to mentally adjust to market rates.