At the micro level....Food, clothing and shelter being the main three required anywhere.IMO, in hard times, such as the Great Depression, people will "make do", clothing and textiles are products that can be ignored by most consumers, items owned can be repaired, traded and fabricated from other items, like Scarlet's gown from drapes.

Other posts are correct, and you can run into some "brick walls."

Since this is a flip, I assume it wasn't tenanted at the time when the fire broke out, correct?

If you do not fix then they put a freeze on your direct deposit funds until you correct the items and you call the inspector.

And do it consistently.For example, I'm closing my fourth wholesale deal of the year this coming week and they have all been MLS deals that I have gotten for well under list and market price.Jon may be correct in saying that if you plan to stay in one particular market and do all your deals in that one particular market or city, private sellers may be the better way to go.However, if you can set your business up to do deals in markets where the conditions are right, farming the MLS and wholesaling those deals can be extremely lucrative.That being said, I always have letters or postcards going out to home owners, all the while farming the MLS in selected cities.

We are probably very close to a nice correction.

Jennifer Gibson, welcome, nice to see other Bay Area Investors here.For starters David C. is correct.

If I understand correctly, cash on cash is net profit divided by your own cash in the deal.

Sorry guys had to correct the subject since my iPhone writes what it thinks I want to say.

Im assuming they re correct and able to do this but i just want to make sure bc I am thinking of selling the house and could really use the 100k to work with.