Through depreciation, other income taxes are offset, through debt paydown and appreciation, he's going to gain $thousands per year in equity.Subjectively, it may appear not to be a deal, but if the buyer understands these factors and wants the property, an entry fee under $10K sounds like a deal. 

Many investors, realtors, etc, often don't truly understand what a "deal" is. 

correct it’s a note and mortgage.I understand everything is negotiable.

Value was added through comprehensive renovations that improved both the functionality and aesthetic appeal of the property.

It is my understanding that the HOA must be carefully analyzed.

Initially, when I started in real estate I could never understand why a seller would sell a property for nothing down or other advantageous terms to an investor.

I am currently trying to understand how people with 40 hour/week jobs efficiently go from building a list to getting a motivated seller on the phone to an appointment and signing a contract I currently have more money than time and I would like to outsource all steps of wholesaling besides the sales portion.  

These tools can help you estimate the materials you'll need and their costs with a high degree of specificity​.Each of these resources has its unique strengths, from providing comprehensive project estimates to focusing on specific materials or aspects of construction.

Their agent, who was one of the worst agents I've ever encountered, probably doesn't understand how any of this works, probably talked them out of it.Was originally listed for $525k and we bought it for $443k with a new roof and a fairly long list of stuff being fixed at their expense. 

BUT, my understanding is that the formation of an LLC does not necessarily lend you any benefits by simply having the property titled under that LLC.