Wholesalers Gone Nuts And Semi-rehabbers
I've run across many of these properties - fixer uppers that need some TLC and the asking prices are just way too high. I'm thinking the guy is a wholesaler but don't know for sure. If I bought his houses as rehab, did the work and then rented them out I'd be stuck with negative cash flow for years. Unless I get 100% occupancy and no problems....yea right. Anybody else notice this trend?
Then there are more and more of these "I painted 2 of the rooms, redid the electric and now just want out" Again - same to the guys above - numbers don't add up. It just sounds like someone is trying to snag the novice investor and rip them of or someone didn't do their due diligence very well and now is trying to get rid of a bad investment without losing any money.f. >
I think I'll start calling and offering low balls numbers that would allow the numbers to work - some of them are bound to be desperate sooner or later 
Sounds like you are right on the money!
My experience is that investors who bought too high and then possibly over improved never go down on their price. If they go down on their price they will have to bring money that they do not have to closing. They just wait out the market appreciation, do a lease option, rent it, or whatever. They are not able to look their bad investment in the eye and cut off their arm, they would rather have a slow bleed over time.
I do not begrudge people who charge "too much" for a home. Geez ... the average US car new car price in now over $30,000. That is "too much" for an automobile but people willingly pay it. Things are priced at what the market will bare. It is only a scam if the appraisal is inflated.