Mortgage wrap on 33 unit apt., how does this work?

[Octavia D.]

At this very moment i'm speaking to a broker about a 33 unit apt. that the seller is selling and is talking to me about doing a mortgage wrap. Heres where we at so far:

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33unit apt.

3 bldgs.

     (1): 1bdrms, 1bath

     (2&3): efficiency & studio

N.O.I = $94,287.21 (yr.)

         = $7,857 (mnth)

Ask: $ 1,300,000

No H.O.A

------ Mortgage Wrap -------

Seller: $700k left on loan

$500,000 down (1st)

$800,000 (2nd to Seller)

Month to Seller: ???

(broker won't disclose, want's to see proof of funds)

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My Questions:

Should I have even bothered with posting this due to the unit sizes?

How does a mortgage wrap work when wholesaling this to an end-buyer? 

yes I know there's most likely not going to be a buyer for this due to some reason, or I could be wrong. Right now the broker is willing to help me get a low rate mortgage for my down payment which I have no intention of getting. Also he has not mentioned to me who the company is that's managing the property and won't give me the rent roll to see the most recent financials. 

What do you guys think about this, I'm not sure.