It's a fair offer I'd say, but I'd modify it to be 85c on the dollar of the then appraised improvement value. 

If your agent has given you a modification (or addendum) to the contract asking for your acceptance with the work already performed, then your refusal to accept the modified contract without any counteroffer should close the negotiation and void the entire agreement.  

I do consider myself a fairly smart individual...but I dont think my success in real estate investing is because of that, its merely because I bought properties and held them as prices continued to rise.You have a point there ... perhaps I should modify my statement to say that this is what will work most consistently in any market, hot or cold.

To paraphrase and slightly modify Buffett's quote: It's far better to buy a wonderful property at a fair price than a fair property at a wonderful price.

You can just politely tell the tenant "no" and that you don't modify a lease once it's in force.

I can always modify it up or down later on.As an investment property, what do you see used more often?

Most real-estate attorneys should have some default forms that they can modify for you depending on how exactly you want to wholesale. 

For your current tenants, you might want to notify them certain items such as drain related issues are their responsibility after they move in etc, and modify your lease for new tenants as well.

Does any one have any tips or examples of what you would include on a letter to owners of small-mid sized apartment buildings, or how you would modify your mailers for bigger properties with more experienced owners (5-20 unit properties). 

But a fixed rate loan is all yours until you try to refi if you're not living there, unlike a HELOC which could be modified.