So buyers who are really in the business (as opposed to amateurs looking for a quick buck) would not bilk the wholesaler.

On the other side, Amateur Buyers (a term that Bloomberg obviously misused) were the real financial winners:  "local flippers sold homes for 20% above their purchase price.

Auctions are packed, you can't bid without some person bidding the price up because they just want to be in the business of flipping and not make much money at all.I feel the same, though yes, NYC is definitely a market you want to be in if you can find a good deal, most amateurs or newbies that haven't been in the business long enough won't get first dibs on properties and will only  be getting the deals that are low retail instead of wholesale. 

It's not for an amateur just getting started.

Just because you put something in a lease, doesn't make it legal and if you end up in court, the judge will not be impressed with your amateur legal work. 

This is probably an amateur question, but I'm going to ask for my clarification.Say I own/manage my own 4-plex.

It is for rookies and amateurs.

Your friend is hiring an inexperienced amateur, so you should charge accordingly.

% rentalsIf the Fed criteria is not met then you can't get FHA financing, which is an often used lender for entry level properties.You need to look at:$ amount of condo feeDeferred maintenance$ amt of special assessment% of renterssome condos hare well run others not so much, some times run by amateurs, some times run by people who don't want to spend money to keep the place looking good.

I don't know much about Springfield Ohio, but will be there from Friday December 10th to Sunday to look at multi-family properties and meet with brokers, amateur investors, professional investors and whoever wants to meet.