That means I've got to get the deal locked in with my seller for less than $70K in order to earn a wholesale fee.How much below $70K I can get is limited by circumstances and by my skill.

Below are the raw as good as it gets guidelines.Johnna also mentioned income-based student loans or IBR loans. 

Below that you'll find more answers to your questionsFind and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up some keyword alerts to notify you when members are discussing something that interests you.

Properties that have monthly cash flow with only 20% down tend to be lower-income housing with lots of turnover and high maintenance costs relative to rent.Doing a flip:Pro: The market has cooled so it may be easier to find a fixer-upper.Con: You might be underestimating the time and money require to flip a house.

@John ThedfordDo you think that the majority of people on this site, who are encouraged to buy well below market value, are buying properties at 50% of market value from educated sellers?

I would wait until you inherit the 50% from the father and sell it to avoid the the large gain as your father basis must be low compared to fair market value.

@Andrew Cosby There is a local meetup in Fayetteville (see below)...

Unfortunately, that was at the bottom of the market and my basis is $90k below the purchase price. 

Property listed online (Trulia, Zillow, etc..) and is well below market value and appears to be depressed. ~ I'm thinking this is a shortsale2.

@Sam Barrow unless lender is FannieMae or FreddieMac direct, yes, I don’t know any conventional lender that will go below $50k as you run into HPML issues.