I'm not clear on how a sheriff's deed works when obtained through the purchase of a foreclosed junior.

My main objective here at BiggerPockets is to obtain financing for current deals in the works that are ready to close in 30 days or less. 

Would love to connect with you @Brian Coleman and discuss how you obtained your 20 units.

I tried a few times to obtain a HELOC, but declined due to my credit score of around 650 and most HELOC lender require a 720 FICO or more!

I am not speaking about bypassing the wholesaler altogether, after all, they were instrumental in facilitating the deal, but rather obtaining more information to make an informed decision as you purchase.Please, chime in - whether you are a wholesaler or an investor, I’d love to hear both sides.Thanks in advance!

When we were younger, we moved into a string of owner occupied light fixer properties, improved them and sold after 2 years, obtaining the capital gains exclusion.  

@Matt Buchalski I would not even go down the road of entertaining this thought for a multitude of reasons.

IRS liens) get wiped out after the sale.I understand the 1 year period to challenge the sale until I can obtain title insurance.  

As a broker and investor I can expand on this some.REO broker you can almost forget getting one on one service.Their meat and steak and repeat business are banks and asset management companies assigning listings.They employ buyers agent to handle that side of the transaction most times and are too busy doing reports,etc. for the bank.Some smaller REO brokers might handle the buyers side if their book of business is small to medium size.Many of my friends on the residential side stay away from the REO list side now as the margins are too low and overhead too high.They have shifted to be buyers agents on REO's for the higher co-op OR they are listing short sales before it reaches foreclosure.Banks with the ROBO fiasco are gun shy a little on foreclosing but can do short sales more quietly and shed defaulted assets.This is why short sale volume has been picking up more and more and residential REO has been stagnating with volume in some markets.As far as wholesalers and assigners.I don't dislike anyone.I play the percentages.A direct end buyer purchasing cash takes out the mystery and things that can go wrong with a wholesaler.So as far as listings I prefer vanilla deals that have a higher percentage of closing.Wholesalers with a little cash make up many who are experimenting on deals to try and make a buck and are new to the game.This causes many of these types of deals to fall out.It's just like a buyer obtaining financing.What type are they trying to obtain makes all the difference in the world on the structure of a deal.So wholesalers and assignees are a last resort with my listings.

*make sure you can obtain the owners operating expense reports for the past 2-3 yrs..