Also in the submarkets I play in, stuff sells at a given price per pound.  

If the competition is not booked then probably amenities plays a part all else being equal.

Because with that one the contract owner is sending it to a super secret list of 100 people vs across the world with mass advertising. 

I see that strategy played out in other parts of the city too.

Could also be a homestead exemption in play.  

You are pulling the cash out, so you can go do another deal.I am just looking at this thinking a $130K property that rents close to 1% that you say will keep appreciating, seems like a good long term play. 

I knew this flip was a good deal just from spending so much time studying my market before I decided to jump in that and living in the are my entire life played a big part as well.

Through talking to different real estate agents I’ve heard about both mass housing and fha loan programs.The mass housing loan program also has a downpayment assistance program, that will pay for a good portion of the downpayment.

I had actually contemplated this same scenario playing out for me. 

I realize for some on here that is child's play, but for all us other mere mortals, it's a reminder that you gotta start somewhere.