You can also check into your HOA bylaws/rules and see what (if anything) it says in those.

With that being said, Most wholesalers stick by the 8-10% rule on sales price (50k property should net you 3-5k profit in assignment).

(3 family, 2 family)Asking price #1 $129,900annual taxes- $3106monthly income- $1650Seller owes full asking price and will do a lease option.Asking price #2 $124,900annual taxes-$1665monthly income-$1150Seller owns house outright and will do 100% owner financing.I think (please tell me if I'm wrong) the 1st house is close to the 50% rule, the 2nd does not come close.

You should search the "50% Rule" at the top of this page or just look at one of the topics in this forum on the 50% Rule.

Read a few books, learn about the 50% rule here, start networking, and start looking at deals.

v=eg8LhxYqBJs&feature=related wait till Mr Obama can not deliver what he promised The 2 rules in our world right now All the money is gone It is not coming back, there is no "sherriff" to get it back either.

I did get a Citi mortgage on a property for about 25K...but that was over a year ago and bank rules change every 24 hours it seems.I'd be curious if anybody has some solid info on this subject also...

Although, I would not completely rule out locating wholesale properties.

I have been doing due diligence for properties available in my area based on the 50% rule and $100/door cash flow.

Let the Constitution rule again.