I only see this working well if you intend to sell to a retail buyer when the market rebounds. the poor cash flow would prevent many investors from looking at these properties.

Our exit strategy will primarily be carrying the note but we will also wholesale and retail some.FYI - I'm going through a divorce.

Materials you can save a little on by calling around but pretty much are about the same.The big elephant in the room and where most of the costs are is in LABOR.Will you do this your self,hire and handyman type,or use a fully insured high retail type of contractor for the work??

For retail buyers you really need to have the property on the MLS.

For all but a few retailers and communities, it isn’t even an option, it is a necessity for survival.

Marie Poe, as I read it, the above is the part that was sweet - the other investor overpaying on owner-occupant (retail) pricing.

They price properties at about the retail value less repairs initially.

My understanding is that if the property was listed on the MLS and being purchased by a retail buyer then the courts will allow it.

Or, retailing properties that I buy with hard money.

I have never bought a retail home to wholesale yet, but my market is fierce.Good luck and nice job getting an offer accepted.