Since last spring '15 I was looking to buy a place to live in SF.

We have a website, we are on Google with Adwords, (spent $700 on that last month) we mailed out over 1,500 postcards to vacant houses and houses that are coming up for tax sale, we have an ad on craigslist, and yet no deals. 

HI Manny Pichardo,You are not the only one that has put themselves into a not so good situation and you definitely won't be the last.  

@Grant Francke - I used that strategy to find my last multi family purchase. 94% owner financed with 6% 15 year balloon and 30year am.

But banks are for-profit businesses first, middle, and last.

ARV is based on comparables sales within the last 3 to 6 months.

my guy charges about 3k labor for regular/large size bathroom last one I did was about 75 sq.ft.

(Sorry couldn't make it last time!

Unless, we have some other financial catastrophe (created by the US as the last one) or based on Geo-political upheavals that we help cause, but ultimately don't control.

If the property is brand new or built within the last 5 years, then maybe you could pay 125k but it wouldn't be a GREAT deal.