You can put in a low offer on a distressed property to flip because the owner is in a financially distressed situation.So, where do you find deals in an expensive market?

Look for vacant or distressed homes (high grass, boarded  windows ect) .

Flood homes are a different niche than typical distressed homes. 

Hi GuysThis is one of my recent deals/flips in Detroit in the Berg-Lasher subdivisionThis was a distressed purchase,  3 bedroom ranch home.Rehab  includes new roof, flooring, external brick cladding, 4th bed addition, new kitchen with granite counters and modern new bathroomHouse across 4 bed/2 bath sold for $130,000ARV - $115,000 to 130,000$27,000  purchase price$31,000  rehab cost$6900   (6% selling cost)$2000   (closing costs?)

This requires more work, something like a distressed property and adding value.

Competitive edge -Offering cash for good deals.Buying below market value, distressed properties prior to hitting the market.

I came across this distressed property in my town.

Our experience has been that commercial loans are difficult to close in the short amount of time that is often needed when purchasing a home from a distressed seller

Why not find a distressed property in need of full rehab at that cost where you can bring the value up to ARV, not something that only has 20k room and needs a 65k rehab, where the seller won't sell it to you anyway?

I have found multiple addresses that interests (Some vacant, others dIstressed) me and would like to know what my next steps would be in putting my first deal under contract as a wholesale deal or flip.