Or a loan servicer randomly messing up the payments to pick another (I’ve seen this happen with a sub to deal, the loan servicer kept switching the payments back to the seller’s info, and the buyer ended up missing a few payments because of it, causing a lot of credit issues, stress and animosity for everyone, luckily the loan didn’t get called but this could happen).

After trying to hire random people from Craigslist, I finally met a guy named Joe from the local Facebook group.

I’ve also watched other random wholesaling channels and videos on YouTube to see if they got a different take or strategy on doing wholesaling, even virtual ones.I’m learning as much as I can over internet before I reach out to investors and experienced RE folks since I’m not yet familiar with the lingo and how financials and numbers work in RE.

Without knowing your specific numbers, I did a quick calculation extrapolating some possible numbers based on what you gave. link with my numbers: Rental Property CalculatorHere's what I used:Purchase price: $480000 (current value)Down payment: 31.25% (the $150,000 equity you have)Interest rate: 3.75%Loan term: 30 yearsClosing cost: $0Repair cost: $0Value after repairs: $480,000Property tax: $3,769 (Everette's tax rate is $11.15/$1,000 of assessment)Insurance: $800 (random guess)HOA: $0Maint: $6,480 (10% maint, 10% CapEx)Other: $0Monthly Rent: $2,700Vacancy: 10%Management fee: 0%Value Appreciation: 3%Holding length: 20 yearsCost to sell: 8%3% increase on all expenses (except mortgage) & incomeFirst Year Income and Expense MonthlyAnnualIncome:$2,700.00$32,400.00Mortgage Pay:$1,528.28$18,339.38Vacancy (10%):$270.00$3,240.00Property Tax:$314.08$3,769.00Total Insurance:$66.67$800.00Maintenance Cost:$540.00$6,480.00Cash Flow:$-19.03$-228.38Net Operating Income (NOI):$1,509.25$18,111.00My numbers could be totally off, but you can go in and adjust for your specific situation. 

I know that the AMA has some stuff for SFRs and Duplexs that can work for bigger stuff, but that is it really random on what qualifies. 

I can see how random expensive could really get you into trouble when you start owning more and more properties.Thank you both!

You can close your eyes and just point at a random house for sale on Zillow and cashflow that much almost everywhere geographically in the USA.

Obviously, a bit more complicated return.Because I provided the HUDs, he could grab one at random and we went over it.

I agree with Chris.Here is how it goes for meMe: Can you tell me about your property and why you need to sellSeller: blah blah blah my house is great blah blah i need to sell fast for a random reason.Me: What is your asking priceSeller: 55k If this sounds like a good priced home that I can wholesale I continue the convo, if not I save their info and call them again when they become more motivated to sell.Me: Is the home listed with a realtor Seller : no its not (if yes then bye bye from me, save info and call if listing expires)Me: ok great, when would be a good time for me to come view the homeAfter driving to the home & building rapport with the homeowners.Me: Whats the lowest you would accept as a cash offer that can close in 2 weeks.... then I negotiate a price with the homeowner.Seller: Well I only owe 50k on the mortgage so I would take 50k cashMe: Ok that sounds great, i will not be purchasing the home myself but what I can do to help you out is put this property under contract so i have equitable interest in your home.

I would get ads for really random stuff, and it annoyed me.