Derek,For a property with high growth potential (5th/park/madison quality), expect GRM in the 20's.For a normal property?

Go build a buyers list of rehabbers ,landlords and other investors that would be willing to buy good quality junkers from you and pay you 1k if the deal meets there requirements.

I did not check the title before I closed because I thought since it was an REO the title would be clean.

Did you leave the home in broom clean condition?

:D I know it will take time and a lot of hard work, but it would be totally worth it to design the quality of my life.The reason that I have joined BP (instead of more lurking) is that I am looking for an opportunity to work for free 20 hrs/wk under an active and successful wholesaler to learn the business from the inside out.

Also, since this is also a matter of principle to me now, can we add the costs of time spent advertising, getting the locks changed again, cleaning, and whatever else is an inconvienience since we bent over backwards to help them to be able to move in...

The number one thing to do now is to get the property cleaned up and re-rented.

That gives the buyer a chance to clean up their credit.

I now have employees that do it but if someone (before) were to find them for me I'd gladly pay them a commission of sorts -- depending on the quality of the deal.

The appraisal institute courses are usually high quality but also a pretty expensive.I am reading Marty Boardman's book about flipping houses and it is an excellent overview of the process.