We had the founder of Waukeshaw Development (they have developments in Petersburg, Bedford, Blackstone, etc) come speak to our class and he spoke specifically about Emporia and South Boston being difficult to invest in because of the demand and economy. 

Howdy All, I have motivated sellers looking for buyers in military communities. Properties are older ranging from $20K-$50K and needing about $30K-$50K in repairs. Rents of properties that are updated range from $1,20...

My plan was to follow up with a text message with website link (which I just set up) buying4cash.com - While working Full Time until Im established enough to make the switch to wholesaling Full-Time I wanted to try to develop a system that didnt require me to try to grab each incoming call, but rather be able to return the "cream of the crop" at the end of the days. 2.

You’ll get there eventually, we all have our hiccups.

Seriously though, there is some info that is only really pertinent to developers, surveyors, or appraisers.

I recently purchased a single family home in the PNW, minor cleanup and I developed immediate equity, and have it rented with decent cash flow. 

Other things you can do:Talk to neighbors with similar housing types and ask about foundation issues -- if the houses were built by the same developer sometimes there will be common themes throughout a developmentDetermine the type and age of the foundation.

Flips are taxes are ordinary income in the same year, but rental is not taxed because you are not selling rental each year for profit. and eventually, when you sell, it will have capital gain treatment.

@Ryan Kaplan If I could afford to raise the rent and continue renting it to recoup the $161k eventually, I would.  

Is this a well stablished developer that has been doing this for years or is he starting out and willing to accept less of a percentage just to get some deals going?