My benchmarks are 20% COC--have never heard of SFHs around the Midwest producing 40%+ COC.

This will produce some good feedback that should help you figure out what is going on.

I have networked with many wholesaler in the DC area that state that direct mail campaigns hardly ever produce result.

I've purchased a condo at %50 LTV using an undocumented private loan, and now I'd like to either REFI or HELOC to both pay back the private loan and produce funds to push towards new investments.

Then you're stuck with a never ending series of "maintenance" requests from the PM.So, instead of the pre-tend numbers the seller gives you up front you end up with a property that's producing less rent, is hard to rent, has ongoing costs to deal with problems, and has expenses that were neglected in the proforma.

I have done a couple of these and the path I always took was to just go about it like normal and be prepared if they were to call it to be able to produce the funds, through a refinance or other means.I havn't had on called but best to be prepared.

As long the Permian Basin keeps producing, I would expect it to continue.

Producing the job on time and on budget was part of the estimate and if we made both of those goals we were paid a bonus. 

Even if all you could do is delay the down payment, you would still benefit as the income should have produced more capital for you over the two years using OPM.

Real estate can be a way to generate some long term wealth by investing CASH into income producing properties and holding them for the long term.