The previous buyer fell out of escrow and he was hoping I could do a quick purchase to get it off his books.

A wholesaler in Pflugerville brought me a deal when their cash buyer fell through, and it ended up being a win-win.Digging Into Pre-Development Permits: Austin has a lot of new developments, and I’ve had success reaching out to property owners near upcoming projects.

During the due diligence process, did the buyer walk the property, unit by unit?

If your budget is so tight that you can't handle a small leak, what will happen when a tenant fails to pay the last month of rent and abandons the property with $6,000 in cleaning and repairs?

Buyer letters were great too until they did away with those. 

(A-B) Step B: wholesaler places buyer under contract (B-C)Step C: ClosingWholesaler (or PML) wires title company (not the buyer here) The funds for Step A contract).

If the court does not approve the sale the redemption rights are moot and the buyer of the rights wasted their time and money.Highly unlikely that the investor who bought the rights wants the house...

@William Causey depends on the transaction and the parties involved.Agree with @Dennis McNeely on some of the transaction costs.A different issue though is with an Assignment, the buyer gets to see what you paid for the property.

What makes it slow in this case is that you don't really start seeing real cash flow until after year five but it's more effective than rentals in that there is little to no maintenance.Sure you can live in a home while fixing it up with the intention of selling it for a nice profit later but I think many people are already doing that and the buyers of slow flips now also have that opportunity without having to qualify with a bank.

Scan those lists in the markets that interest you and look to see who the buyers and sellers are.