Right now I'm buying houses that appraise in the low 70's for 20-30k.

Too many buyers don't figure total loss when considering vacancy;- $1000 per year in total maintenance seems *very* low.

Obviously, most of the timethe mortgagee's credit, etc. comes into play, but in this case the LTV is so low it hardly seems to matter.Assuming the paperwork is in order, what would you say is the market value for this note?

By Nat'l Assoc of Realtors (NAR) standards, which is carried over in many of the state associations, Realtors have to present all legitimate offers.Having said that, you may want to read a bunch in this forum as the chances of your offer being accepted is quite low, though possible.

Sell to an actual end-buyer and take my assignment fee at time of closing.Side Note: If anyone has any comments about this strategy, please let me know, as I'm open for any/all suggestions.Now, here's my question...As a new, aspiring investor here in the Sacramento area, especially within the suburb where I live, and the surrounding neighborhood, there's been an influx of homes that have been foreclosed on, which the banks have bought back and have sent to their respective RE companies for resell.Would these REO's be worth my time going after, in order to hopefully wholesale and if so, what kind of reaction should I expect on submitting low-ball offers?

But there are many areas where the REO inventory is very high, the prices are very low, and the rents are high.

The surrounding homes that are similar in style are worth about 200k on the low end.

:) Our low cost of living is probably a factor in our population growth, which has been 22 percent over the past 5 years.

If you see an FSBO wouldn't you negotiate your offer down, knowing the the commission is going to be low.

Please see my reply to your other post on how to find this information on BiggerPockets.To answer your question, most places have cap rates that are to low.