I do have a couple of recommendations for you though; Ask the listing agent ' Is there anything aside from price that the seller would prefer to have in an offer,' such as Specific closing date, or a lease back so that they may find a replacement property, etc....I have found this to be a very effective way to extract some of the seller motivation.

@Rick MagennisWelcome to BP.I would get my license in NJ, and have 5 tools when talking with a home seller.Listing - Retail or WholesaleSub2Lease Option - Lease PurchaseShort SaleJV with Seller on a Minor RehabBe a transaction engineerDon't Be a One Trick Pony :)

Say maybe 20% of commission on closed transactions or a flat $10 per lead?  

What is generally shown is "cost of the property + repair costs" then investors add holding costs, transaction costs and desired profits to get to a required price.Problem is, your price needs to come in at or just below the market value.

That done, understand that selling to another investor who will not be living in the property can be considered a commercial transaction, but check with state laws as a residential property may be in a category of consumer loans regardless of who buys it.  

No matter how good of a negotiator you are, there's someone out there a little better that you and it's always good to have an arms length transaction.

I don't think my current method of paying my handyman an $85 trip charge is cost effective. 

My suggestion would be to have the title company or an attorney place those funds in an escrow account or other security that is separate from the transaction.

Our standard loan is a 5-month term which puts the effective rate at 6.25% - 7.5%.

I've never done a transaction like this and I would like some advice as to what is the best option.