Wholesaling doesn't involve taking ownership you're just selling the contract for the right to purchase a property at that price. 

People purchasing single family homes for almost retail price for outdated home that will not yield any profits unless the work is DIY.

Purchase price: $235,900 Cash invested: $70,000 Sale price: $399,000 Complete Renovation: deleting walls to open up kitchen into living room, new kitchen, cabinets, appliances, custom doors, floors, trim, paint, new laundry room, new powder room, new master bathroom, custom woodworking, exterior farmhouse paint, all new interior paint, etc.

(I think providing makeup removal cloths and black face towels will be what I choose, moving forward.)In our family, my husband is actually way better at sewing, etc. than I am.

Some BRRRR markets I see in those price ranges are Columbus, Birmingham, Jacksonville, Tyler, St Louis. 

@Bruce Ng- thanks  1) are you planning to pay the seller the difference between the purchase price and the FHA loan amt ? 

Purchase price: $674,000 Cash invested: $134,000 Long term rental purchased in area that is under development and predicted to rise in value over the next 5 years - 2br 2bth

Purchase price: $249,500 Our first home turned first rental property!

.- Other market trends about the areas TH and individual room rentability - Frequency of renting versus selling in the areaI look forward to the insights you all share!

Prices aren't coming down, but there are also hardly any buyers, and inventory is very low.