For an mls listed property:—95% of agents/owners will require you to show a legit PIF or orespotoval to consider your offer—the offer will be the Reaktor purchase agreement —-there will be a substantial EM required—you would unlikely get it st s price you could wholesale, it’s already being exposed to full retail market 

Penfed stopped doing cash out refi s . 

For 1st 5 years, the  monthly PI would be $2800 on a $480k loan; current gross  rent income is $3600.I would then use $128k  of Prop 2's cash-out to reduce the $1.208 principle of Prop 1 to $1,028,000 and acquire a 60% LTV at 6.25-6.5%. 

If I have the P&S signed with the owner will that prevent other wholesalers or buyers to make a deal without me?

@Alex S.

Shortly after a hurricane had some minor damage to some other units (the condos were built in the 80's), the condo HOA voted to become a 55+ community.

If you dig a little deeper into the forum you will find 100's of threads related to the strategy mentioned.

@Christa S Rickard  This is not a broker you want to deal with.

We started in the 80's, and with her cash, my wife and siblings bought 6 properties including a 3plex she lived in herself.

Thank you for your response@Kevin S.