He's also a first time buyer. 

But greed can lead to trouble. biggest risk Frankly that I see to Investors on BP today is anyone who buys from Morris invest.. based on the homes I drove by that out of area buyers have bought and the post on this site.. those are loser before you even start..

What should a buyer pay extra attention for this type of purchase? 

I am think about hunting down a wholesaler or two but I don't know if they'd want to wait through the 203k closing process to get paid. 

A lot of problems with first time home buyers are they do not have the credit to make the purchase. 

You can also buy lists.A lot of buyers of duplexes try to get cashflow.

.~ Happy Hunting! 

Build a buffer of time and repair cost accounting.Additional infoWHOLESALINGlistingbook.com or equivalent serviceupdates via email bank owned properties, price changes within range, new lists at/below $50,000 (not worth $50k)Send realtor offers with number/house address… they send to banks.. maybe 1/10 accept an offerRealtor gets a contract for youYou go check out the property to ensure nothing is crazyYou may be prompted to put down a deposit about $1,000 (don’t have to)Check that the title is clearPlace the house back on the market “handyman special”, cheap, cash, phone, email) at least $10,000 more than your offer.. eventually you may build a ‘buyer’s list’Get the new buyer to sign the contract with the realtorTAX DELINQUENT PROPERTIESLocal assessor - contact for people with delinquent property tax records —> excel listSort excel for names, addresses, amount of taxes, taxes that are 2 years old (and older)Contact the owner via letter ‘im oliver, I see that your property is behind on taxes…’“Dear Mr.

With wholesaling, if you market incorrectly and fail to disclose certain things, you could run afoul of the Business and Professions code that requires you to have a license to market properties to buyers. 

I'm also a buyer in Broward and Dade, but the numbers are difficult.