At 85% this is a break-even deal at best and nothing anyone should be considering.

How did you finance this deal?

If you are able to build an in-house maintenance team, having a useful shop and stockroom can save you/your clients a great deal in "road time" and other expenses.

Both were off market deals. 

Hi @Chris Shon - I'm also a real estate investor based in CA, but currently building out a portfolio in Atl (currently just closed my first deal and planning on more to come).

Lastly, the price point is still very cheap here in the sense that you can still find investment deals that hit the 1% rule for 120-180k!

While this isn’t usually any reason to back out of a deal it’s a good idea to know up front.

After a couple deals under belt, then take out a massive line of credit and grow fast with the all-in volume game. 

There is no secret sauce to getting/finding properties other than what is already told out there in the real estate market - 50% bootstrapping 50% luck - same as finding a great wholesale deal.

If you have zero experience it will cost you more for a hard money loan but with the right deal you can make it work.