I could see the police responding if there is some specific criminal activity in progress that they need to deal with, but it's not likely the police are going to go house shopping with you - even if it is in a rough neighborhood. 

(I know I need more pics but is this really something that would hold up the progress that significantly?)

I like the idea (maybe not inline with your plans) of buying farmland slowly and steadily on the outskirts of cities (in the path of progress, as they say) and speculating that way. 

I could be very wrong about this as I am just learning about REI but I'm wondering about the assessed value of the property.... if the assessed value is high enough (I believe LTV of 80%) couldn't this be refinanced to pay off the loans and turned into a conventional loan?

I run my own comps and also assess the repairs needed.

The rent application would include all information required for a lender to assess whether the renter would qualify for a mortgage (e.g. 2 years of steady employment, tax returns, no bankruptcies or outstanding judgments, etc.).

Does this cause anyone to revise their assessment of where the real estate market may be headed next year?

Also dig into the condo docs as sometimes there are special assessments that can come up from time to time beyond the regular condo dues.  

Cash offer. purchase price : $145,000 rehab cost : $41,000 ROI = 32.5% Milestones: 1/21/2014 purchasing 4/16/2014 listing 4/21/2014 pending 5/16/2014 closing & funding Before work in progress After

Then, once the wholesaler receives the seller contract, he or another person will take a look at the house, assess repair costs, run comps, determine ARV, and therefore the negotiation can be based on the actual condition of the home without any risk of losing the assignment.