As promised for more details (aka what a nightmare)

So I had gotten this cash flowing duplex under contract waaay back in the summer (July or August). My first sign that this was probably not going to go smoothly was that I had a very difficult time getting into the property. Actually, the PM was going to get in and take pictures. This was not happening, so after 10 days of trying to get it done I rescinded my offer. If I (or someone I send) can't get in, how can I know what exactly is going on with the property?

Shortly after I rescinded the offer, the seller contacted me and asked if it would be possible to re-visit the deal. I decided I would give it another shot, but I lowered my offer to $13,100, which was accepted. This is a property that was originally be offered for $27k. My first contract was for $18k, then I got it or $5k less...

Crap! How low could I have gone?

Ok, so now I have it again. I hooked up with another wholesaler (Aaron) who knows that area much better than I do AND he said that he has a couple of investors who like that area so long as they can get in @ $10k per unit or less. Sweet. We are going to sell if for $19,900, which would be a decent payday for us.

So, he started trying to get into the property and it was basically the same thing again, so I told the seller I would rescind again unless we got in immediately. She got in touch with the PM and my partner got in...but by this time it was nearly Labor Day.

Unfortunately, the couple of buyers who he had in mind took a pass on the property. Awesome. I was also working with another investor friend of mine in CA (Rosanne) who has a fairly active list of buyers who will buy wherever, and she got some interest, but they turned out to just like to ask a lot of questions. Great.

Here it is just after Labor Day and what looked to be an easy sell has turned out to be anything but.

So, while Aaron continued to push the property to his list, Rosanne and I looked to do something neither of us had done before, put the property on eBay. This went well, much better than we expected, but then it got interesting.

I'll have the interesting eBay part for you tomorrow...