Cash out refinance or save cash flow to buy something all cash, then you can buy a place at the courthouse steps, buy a REO that can't qualify for financing, etc. where you knock out 80% of your competition from retail buyers and only need to compete with other investors so you get a bigger discount.

Retail comps suggest $150 to $160 is not out of the question.

If the loan failed to complete successfully, part or all of the 20% would be applied as necessary to correct any deficiency in the loan balance.These loans would be made only for home located in land lease communities, and only in states that permit unrestricted chattel lending, that have signed a community agreement between the lender and the community.As part of the joint venture, you would be required to assist in any necessary collateral recovery and security.All interest and fees would belong to the 80% lender who would be legally licensed and fully compliant with state and federal laws.You would agree to have and maintain a compliance management system sufficient for a retailer and/or community as required by state and federal law to protect the licensed lender from third party liability.Yes or No?

I do large multifamily and retail so take what I say with a grain of salt.

The houses go full retail here unless you get an auction property.  

Buying a property like this all cash means that you eliminate competition from any retail buyers, and get a discount accordingly, but the risk is that the house needs work.

@Andrew Fielder Are you saying to basically work backwards from potential retail sale, to get to lot price, all in lieu of forecasting a commercial NOI I assume?

I am really enjoying this career path and look forward to participating in this forum.Currently my team handles a good deal of VA foreclosures, and retail sales up to $1M. 

I would also be careful about buying in the 20-30K range, it's tough to make such houses cash flow and there aren't many retail buyers for them, so they are hard to flip.

Do you pay retail for your rahabs?