Its kind of tough to believe there is not some other underlying problem driving the condition.

Just last Sunday I signed an agreement for a 2/1 14'x56' oldie (69 RitzCraft) that is in excellent condition with AC and Gas Furnace> The price was $2750.

Is it in good condition and has good tenants in place?

. / $4,166.67Annual debt service “DS”Revenues:Monthly AnnuallyRental Income$935$11,220.00 (RI)Vacancy @ 8% ($74.80)($897.60)Net Rental Income $860.20$10,322.40 NRI)Operating Expenses:Property Tax- 1800 (this is being challenged currently, but no ruling at this time)Insurance- 1000 (estimate, I will get a quote on this for sure.)Maintenance- 1200 (Estimate)Utilities- 800 (Estimate)Advertising- 100 (Estimate)Total Operating Expenses (*Very Estimated*) = $4900 (TOE)Net Operating IncomeNRI-TOE= NOI$10,322.40-$4900= $5422.50 (NOI)Total Cash FlowNOI- DS= TCF$5.422.40-$4,166.67= $1,255.73Return on InvestmentTCF/ TCO= ROI$1,255.73/ $5,000= .2511 (25.11%)Cash on Cash (Considering- Down Payment, Upfront Repairs, Closing Costs)TCF/ TCO (W/repairs and closing costs)$1,255.73/ $6,500 ($5,000 DP + $0 Initial Repairs + $1,500 Closing Cost) = .1923 (19.23%)My thoughts regarding this deal: I think the asking price is a little high for the property considering it’s age, condition (off of visual inspection from the street level only), location, what limited comps I could find.

Both homes are in decent condition.

Are these contracts for wholesaling a standard form available from a state website, or do you have to get your own contract created through a lawyer tailored to each specific deal?

Price per square foot ballpark they expect to pay, beds/baths/size/condition - major rehab, medium or light, etc.Do so via email - you have my email address.

Look for agencies that have all of their recently sold properties listed online as well as for sale as another resource.Dion, I always thought ARV and Market Value were different animals that depending on the condition of the property could end up being the value.A house with ARV of $100,000 that needs $20,000 in repair would have a Market Value of $80,000 (what it is "worth" on the market "as is") if it didn’t need the $20k the ARV and Market Value would be the same.

I know i can rent it in 3 days when i listed low, but i am trying to preserve the great condition of the house.But yes, that's why i lowered the price and was considering lowering it even further. my agent is advising against it.

The advantage of the standard form is that every lawyer in the state and many citizens of the state will know exactly what it is.