Here in CA, the cash flow had to make sense.  

Cash reserves totaling 6 months (principle, interest, taxes and insurance [PITI])2.

Excessively abnormal amounts of garbage every week (drive by on garbage pickup day if you have that in your area). 7.

Keep in mind that lenders typically won’t fund the land purchase so this will likely have to be done with cash.

If they had bought using HML this wouldn't be an option and the seller would have needed to shortsale or bring cash to close.

They are absolute cash cows, but you can't qualify with a second home loan since they are only for SFRs (Freddie guidelines in the link below)https://guide.freddiemac.com/app/guide/section/4201.15

Purchase price: $110,000 Cash invested: $88,000 Woohoo my project is finally finished and is listed for sale!

Because of another deal I am financing I dont have the cash on hand to do the deal and while I have the equity to do a HELOC, I do not want to apply for the Heloc until my current deals funds. 

If I pay $70,000 above but can make $400,000 more in both cash flow and value appreciation it's a great deal.1. 

It's a pleasure to be a part of the community and appreciate any and all tips and help I can receive.With that being said I'm looking to begin wholesaling in the San Antonio/Austin TX market and currently looking to meet and work with cash buyers that share similar goals.