Being new, I do not want to take the path of fix-and-flip model.I am long term buy-and-hold kind of person, looking to use the money in best possible way and not requiring me to put in any effort after 5-years.Thanks for all your suggestions.

This was before the minor rehab, it's been painted and flooring put in, some minor plumbing, light fixtures added. 

We decided to put in an offer!

It will need about $3K in general flooring, paint and fixtures to put in a new tenant.This is basically a no money down deal where I can purchase with my LOC and then refinance at a LTV of 75%. 

If someone actually had a off market properties well below market value I'd be happy to do frequent business with them, unfortunately most wholesalers I've dealt with don't put in the effort to find true deals or even know what one looks like.  

So if you put in an embarrassingly low Offer to start off with (because they won't let you look at it until you make an Offer) just to get a feel for their desperation or otherwise, and when that doesn't work, increase your Offer/s in increments if you are still so inclined. 

When I looked at the return on what I was getting vs the work put in I could not pull the trigger. 

Whoever lent you the money on the truck should be put in jail.  

When I make the second call, be sure to remind him I'm calling back as arranged and put in a good word for myself/build credibility, something along the lines of, "Hi, this is Eric, I wanted to make sure I touched in with you today, like I promised the last time we talked.

@Mike Flora So are you looking to start a new career, paying a little back taxes for delinquent owners (known or unknown) and put up "For Sale" signs the next day, then run away from those that complain, but immediately put in your claim for Adverse Possession for those properties where no-one appears out of the woodwork?