I can most likely pick it up for 40-50% of ARV (not sure what repairs are needed), but I have a cash buyer who is hounding me right now for this area.

If they think you have offered too high and/or under estimated the repair cost they won't approve your financing.I realize the goal is not to buy the house but to assign it, using a hard money lender as a backup gets you down the path.

If the someone is living there then I would take a serious rehabber through to estimate repairs.

Just make sure that if the house is not 100% FINISHED, and all boo boos repaired, that there's plenty of $$ placed in escrow to finish it.We just looked at a place that was about 35% BELOW MARKET on a price per square foot basis.

You won't be able to get title insurance on it until the redemption is up, and if they redeem you won't be reimbursed for any non-essential repairs.

SOME ARE TENANT OCCUPIED, SOME ARE BRAND NEW, SOME NEED MINIMAL REPAIRS...IF ANYONE IS INTERESTED EMAIL ME AND I WILL SEND YOU A LIST.

Because you fail to take into account vacancies, repairs, and some other costs, I believe your cash flow would be closer to $13-13.5K.

I think a good way would be to have an in house makeready crew for minor repairs, painting, lawn maintenance, cleaning and pay them whatever is fair market for your area and you charge more for their services.

They leak, they break, they need repair and maintenance.

That is a unit that is built in the 1920’s and will need ongoing repairs.