This is one of the main reasons why I partnered with the "LOI Events" group.

A likely reason you don't see much about Melbourne is because that is merely one city in this county.

I lent $225,000 of which $185,000 was for the purchase of the property and $40,000 is going toward renovations.As a lender I just want to get back my loan amount back (in this instance $225,000) if there is a total loss with the property.I have seen where a lender tells the insurance agent how much property insurance he/she wants based on a price per square foot calculation.On the other hand I have also seen where a lender tells the insurance agent that the amount of property insurance should be the loan amount in this instance $225,000.

Purchase price: $195,000 Cash invested: $35,000 Single Family home near Lake Texoma.

Now, there's a reason for that...but to answer your question directly.  

We used to get 25- 35% NET caps , all in pricing from about 25- 40k in the better areas of Clev, GH MH CH, WH, Lee Harvard Euclid.

I live in Kennesaw and I’m interested in getting a house but in my price range the houses are selling significantly higher than asking so I was thinking maybe building might be an option even with the lumber shortages.

FHA offers a 3.5% down payment option up to 4 units and Fannie Mae offers a 5% down option.If those down payments are too high based on the purchase price you can again, use a DPA program.

I'm reasonably certain this owner does not need the money, so that's probably not a motivating factor.Please help David beat Goliath to the punch. 

Even more after you consider the hard money costs. 2) the hard money route is going to cost you at least a few % of the loan value so it’s basically the same as just raising your offer a few percent even higher than “overbidding by an insane amount”.3) the seller’s might be taking cash offers because they know they won’t appraise for the sale price.