I figured it was finally time to jump in.

@Max ShawCongratulations on your new acquisition.

After making $1,000/mo. payments on an empty house in severe disrepair for 18 months... and assuming nobody would want the property because we didn't think the numbers would work for a rehab, we finally listed it with a very confident and persistent agent who sold  it in 2 days!  

A true wholesaler finds properties off market ,for the most part to flip, and once again a realtor will not get paid.The realtor ends up  making tons of low ball offers running comps galore ,and might finally find you a property only to have the property back on the market. 

., and the issue finally must be dealt with. 

My pleasure @Tyler Divine...1) Essentially same advice as posted about in your lumber purchasing post... detail the scope of work, specify fixtures or state the allowance for them, and review all bids to ensure apples to apples.2) Funny you should ask about poor soils, as I was recently consulted by a builder on this very topic as they didn't perform soil tests prior to acquisition and excavation and spent upwards of $70K on the fix!

I've been driving for dollars as of late, and I finally found a home that looks to be abandoned (overgrown landscape, mailbox completely full, broken windows, and the whole nine).

I agree 70% rule is kind of simplification, but finally i see the main difference between flipping and building is that while flipping goes you earn money on buying with cheapest repairing, but while new development/deep rehab goes you earn money getting adding value for highest market price comparing of rounded properties in this location. 

Finally I give them a gift card for $50 to a supermarket like Vons.  

I recognize that long term appreciation is unlikely with this type of property however the cash on cash returns seem strong (for my area) and given the fact that this acquisition will double my units and allow me to begin generating enough free cash flow to begin funding the acquisition of additional properties, it is attractive.