You have to really understand your market, have to be able to realistically (not optimistically) comp a house, have to have a solid understanding of reno costs.

If you don't see discoloration or evidence of mold in the attic area along with in the exposed areas of the bedroom, I would not be as concerned about the allegations of mold affecting the tenant health.

In our case, we know we can't wholesale without a solid 2 weeks with the property so the last piece of mail arrives 20 days from the auction date.  

Right now, I'm looking for a solid real estate course I can take in California. 

Just yesterday, a lot came on the MLS for $58K one block over.My questions:1) I know this isn't an amazing return, but does it seem solid enough to go for it?

If you're sure you could be all in for less than 800k (after renovations), this looks like a solid deal. 

FHA or VA into any property skews ROI very quickly.As far as the ROI on time goes is going to be a variable greatly dependent on personal preference, liquidity, ability to obtain financing and personal skills. e.g. if you hate dealing with tenants, have a shot credit score, don't have a lot of spare time ect.The next steps are also important, what you plan on doing in the future.If I had to blanket statement your response, I'd say go 20% down on something commercial (solid building) and get a property manager.

Also made sure rental market was solid.  

It's in a file a market do you like where there is a need for not just Rentals, but quality retail ready Rentals (that gives you a niche), The economy is solid, rents are up and vacancy is down.

We have some amazing advisors walking us through this project and have as solid of a contract as we could ask for.