Hello RobertYou will learn a Hell of alot here on Bigger Pockets so stick aroundFrom what I can see Duncan does not have a very good report card,,,Having said that check out the reputation of any coach or course here on BP or simply Google the guys name like this "Joe Shmow Reviews" you'll get the good ,the bad and the ugly real fastI hate to say it but I have literally spent days on Craiglist trying to find that "motivated seller" with a fixer house for sale.Sadly I havent had much success .I have even recruited and paid for VA's in the Phillipines to scrub filter.call and pre qualify these "sellers" again without much success.Its interesting as some guys like Joe McCall build the whole focus of their marketing for their Lease Option and Wholesaling courses on fishin the Craigslist ads for sellers.That may have worked 3 years ago ,,,Im not so sure about today.Why? 

Easy to say pre-brain-numbing homework assignments.

I then send the owner a pre-drafted e-mail with "how does a lease purchase help?"

Are they "deals" or are they getting back to pre-crash prices?

Nevertheless I am turning in loan application for pre-approval currently--but looks good for future financing.

Some sellers want to wait and see what the market will yield at the end of the lease or want the option price to be $30k - $40k above the retail price today.How can you get the seller to agree upon a pre-determined option price at today's market price?

So....Here are the PRE SEPTIC numbers:$280,000 ARV$125,000 BUY $65,000 REHAB $30,000 CLOSING/HOLDING_________$220,000 INVESTED @ 78% ITVIf we add the $22,000 for the septic, we still make money however our margins get very tight % wise.

So there are three 2BR units in pre-foreclosure in an apartment complex all being handled by the condominium associations attorney.

The problem is that without a lender pre-approval or a means to show that I have the money in the bank for a downpayment, I would not be able to enter into a purchase agreement, so the property is not secured.

I did have one previous gut rehab I did in 2004 (pre Katrina and very proud my property made it thru).