I has two GREAT property managers that immediately come to mind, one handling 5 high end high rise condos I owned in Phoenix and the other one handling a 12 unit very lower end apartment building I owned in Arlington, Texas.  

I sold my company to a national PMC named PURE,  they have a large footprint in California and are always looking for people at most levels. 

Some of the best advice I got that I will forget was this:"SOME OF THE BEST DEALS, ARE THE ONES YOU DON'T GET"Let that sink in for a while...I remember 4117 s Michigan Ave. here in Chicago, it was an awesome 8 unit full gut condo conversation - I loved the deal and still belileve it would have been a great deal, but would have pinched me so thin I am not sure how I would have survived. 

Ask how many units they manage and how much experience they have.

This will vary greatly depending on how good you are at negotiating, how accurate your numbers are, the seller’s motivation level, the area you are wholesaling, etc.

Hi Basit,It's probably been a combination of outbid, or out contingencied, and a bit of financing at the levels we want. 

If rent is 1500 per unit, well, now you are $6000  (1500 * 4) in deficit right from the start.

Are you looking to live in one unit and rent the others? 

I don't believe that is the case, especially if you have a quality unit, priced competitively, and clear advertising.

In this case, you can use Rental Income from the units that you will not be living in and that income can count to help you qualify.FHA rates are going to be lower than conventional for you almost always, but FHA does have a 1.75% funding fee.