He knows the owner personally and advised him to just get rid of the place b/c it needs so much work.. but the owner just inherited the home from his dad, who passed and was thinking about fixing it and living in it.I talked to the guy for about 5 minutes and explained that we could do a quick sale and I can pay cash. 

coming in here kinda late, but I think you got a bunch of good advise.

Good advise.

First off start with Rob K. advise about presentation.

Account Closed has sound advise. 

So, saying this, I would not advise anyone to pursue a deal like that, unless they had talked to their attorney first.  

I have been advising people to take 10 year terms and go non-recourse when they are available.  

The last quarter (annualized) is 6.7%.The fundamentals and economics are strong for Orange County, however, from an investment perspective (and what we advise our clients), your investment capital can go much further in other markets that have similar or better appreciation potential, while being able to generate positive cash-flow while owning more properties with less land-value risk (depreciation).With a median sales price of $585,000 and median SFD rent of $2,350, the rent-to-value ratio is a mere 0.4% -- far below our minimum target of 1.0%.Thanks Karen.Continued success!

ACH via bank, Capitol One P2P, Chase QuickPay, etc.If the tenant doesn't bring their own option, I advise them to use Venmo.

Any input or advise on how to calculate ARV..