The one thing that you DO NOT want to do is go into a deal being slim on funds!

The chances of them approving and us closing by April 30 are pretty slim, I think.

Those are the numbers I'm seeing on the mls so obviously off market deals will be a lot cheaper but my point is your chance of finding a house in an area I'd feel comfortable walking around at night in for under 80k is pretty slim unless it needs a whole lot of work or is very small.  

@Ericka Grant Yeah, I've been noticing that the deals here seem pretty slim.

For those who don't and have relied on desperate sellers offering 20+% instant equity at closing the pickings have gotten slim.

I've been focused on gaining a residential construction job and am finding it slim pickings around my area (Chicago) so thought this would be a stepping stone for a future Flipper.I received my Construction management degree back in 2012.

Furthermore, San Diego is slim on good deals, and when you have one, they can make a lot of money.  

There is always a slim chance that a very low offer will be accepted if it is made at exactly the right time, under the right circumstances.My philosophy is that when I am truly looking to buy, I make offers based upon what works for me, regardless of asking price.

Let's say traditional:You would need at least 20% downPurchase Price: 84,900Down Payment: 16,980 (down payment)Financing: 67,920Monthly Payment: 327 (PITI 500 or less)Two beds are renting for about 750 month in that area50% rule leaves about 375 to pay Mortgage.That is very slim, and if the monthly payment is more than 375 then you are losing money.However, that is just one scenario out of many involving a lease option.You could have the tenants pay a premium which would cover the mortgage and get you some cash.

Just like all people in REI courses only a slim few make it out and do what their intentions were.