You can still get a deal.

Reason for this is that our 40% partner who leads the group purchasing the property accepted a SUBORDINATED note for his interest in order to put the deal together.Bottom line is this, by utilizing a number of CREATIVE real estate principles, financing, deal making, etc. we have increased our wealth by anywhere from $235,000 to $635,000 over what we would have had accepting a cash sale.  

It all depends on what sort of deal you are thinking.  

I always think 3-5 % is the annual appreciation to go when I analyze deals.

Also, connect with other like-minded people in your community and attend as many in person meetings at your local REIA groups to network and connect + find out about off market deals and get on local wholesalers "buyers lists".Best of luck!

Lastly, price point is still super cheap - you can find deals for under $200k!

Ultimately it's a matter of preference and deal dependent, and inspections are not necessary if you're confident in the price you are getting

-can your agent help you get off market deals? 

It could save you the trouble of finding a new tenant and dealing with vacancies.

Hello,I recently closed on a BFD deal and looking for direction on correctly setting up journal entries, to make it easy at tax time.In a nutshell...We hold a mortgage on the property with a principal of $150k, 4.25%, 30yr amort (liability)The BFD sale price was $300k, with a $45 downpayment, $255k financed at 5.5%, 25yr amort, 3yr balloon (asset).All transactions are run through an escrow agent, and we just collect the net difference monthly (~$325 or so).