Sacramento is decidedly NOT the land of GSW!

Tenant issues are more likely to arise and then you have the owner....many aren't qualified expertise wise or financially to weather the storm.

@Arron Paulino Your posts illustrate the challenges of exiting SFH's in markets where the natural buyer is another investor and not home owner.

If NY is where you decide to be I would strongly recommend connecting with @Mohammed Rahman he is who I would use. 

I have decided to DIY and am getting good learning experience.

Most work like this: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

There is a competitor in my market, talking with the owner he bragged of this model I mention above.

It sat on the market and dropped in price a couple more times at which point we decided to make a new offer.

Henry,I take it these lots are sold to owner builders who want to build their own home ..

Often, owners beat up PMCs for a low price, but fail to understand the PMC will often cut corners to make sure they are still profitable.