Ask the seller what they want to NET from the sale (the actual amount they want to walk away with in pocket), not what they "want for the house". 

They have a notarized purchase and sale contract where Bob agrees to purchase the home for $300,000.  

Hello Alison, If you want to get paid through escrow I think you need to be licensed in Oregon if it involves the sale of real property or you will be in violation of the law.  

House was purchased in the 70's id like to keep the 70's sale price.

Thank you Dan Wallace Jeff Kehl Great insights - given I'm only recently doing some 1099 sales that is growing but not established over 2 yrs, I will see what comes of it...keeping good records and documenting rehab.

I told him I’d be interested in discussing if we can come up with a deal for us to acquire his properties so he can find his triple net lease.He said he wants to 1031 exchange the sale of the properties for a commercial property.

My strategy would be to buy the properties, advertise them as is and sale them.

I would get property radar right off the bat though.and remember you have to follow about 25 to 50 homes to buy one.. can't get lazer focused on one as you never know which one will actually go to sale.

Whether it's watching YouTube vids, podcasts, books, blogs, or just talking to anybody about REAL ESTATEWell, on September 6th, I bought my 1st property and it happens to be a 4-plex MFR which I acquired at the trustee sale at the Pinal County Courthouse.

The closest I can get to that over here in America is finding investors to do a CP loan on land where I will provide a list of suggested areas for sale, as well as the condominiums total 3D model with construction costs and all dimensions/specs provided.