This approach is not fail-proof, obviously and the manager needs to have enough experience to know what they are doing and how they are going to execute the business plan.In the example above, If I'm confident I can spend $10k per unit (rehab), then rent each unit at $1,000 in a reasonable time , then I wouldn't have a problem paying $1,000,000  for the asset.

Amazon announces that Nashville will be home to their new executive operations center.

Hey @Daniel Howard The method that I use when I'm trying to find owners is by going to the county assessors parcel map.

@Roy MosesAsk around about lending to the LLC, and you as an individual executing a 'personal guarantee' on the loan.In this situation the loan becomes recourse to you (i.e. the limited liability of the LLC is stripped away and the bank can go after your personal assets regarding this one loan). 

Make the purchase of the LLC equal to the wholesale agreement and the EMD together.When you sell the LLC, after inspection by the buyer, the Buyer simply executes the purchase agreement in the name of the LLC...as the new owner of the LLC.

Now I can enjoy my 3 week Christmas vacation in the mountains with my lovely girlfriend while the team executes the plan How did you finance this deal?

Good morning, Aaron:  I've used Howard Hanna Insurance Services for several recent properties.

Options trading for example is actually similar to what you're doing in the way that the objective is to buy the stock for less than it's current market value, and you can buy and sell contracts, but it can be much more profitable much quicker if executed well.

Networking with brokers is great too, depending on the broker, but the truly best deals you will strike and have the opportunity to execute will come when you are the one taking the call directly.Send letters, cold call, warm call, knock on doors, leave door hangers, post ads, do anything to start a conversation with someone who may be considering selling their property.

@Robert Howard how about a hotel like a Comfort Inn.