Do you mind sharing current average rent, how many bedrooms and baths, and what state the property is in?

@Holly Williams  I suspect this may be spurred by deals going bad and all of a sudden lawyers get into it and say hey you did not protect our investors well enough etc. etc.REalty shares does a nice job FYI  you may want to look into their debt deals.

I don't have all the answers to your situation, I will share a little of my experience - When I was younger – in my 20’s in the 60's, I never had too many jobs - the longest one I had was with a correspondence school for 7 years - that sales training was the key that prepared me to be able to negotiate real estate transactions.During that 7 years I started taking seminars, buying cassette tapes (remember them?)

It can get complicated depending on the language in your lease and the time frame you are working with.

They said their mortgage balance was still pretty high, but did not share an exact number.I estimated ARV to be at $180k.  

(DO Ask for receipts if it's for material deposits.)Share competing bid information and "bid shop".Encourage bidders to get into a bidding war.Try to low-ball contractors.....they will try to cut corners or make it up with change orders a lot of times.And finally, DON'T assume that "All Contractors are Crooks" or that "All Contractors Will Rip You Off".  

Or does anyone wholesale out of California who wouldn't mind sharing their contracts with me?

Hi all, My husband and I have been managing our properties since 1997 in North central Mass and southern Vermont, None of our friends share this passion and I can't wait to chat with some of you who have been or wish to do the same thing.

If there is anything we can do for you with these regards, we are happy to share our professional services if it means adding value to a transaction.  

After that year, we're going to convert it to a different kind of profit sharing deal for the flip.