I am new so bare with me; first actual post.I am looking to invest in multifamily properties located in a major city adjacent to a major college. 

@Marcus Wallace, I don't think the numbers work for you as a Wholesaler, if it barely makes sense if you were the end-Investor.

Here is the list of problems: The front door barely opens, NONE of the doors close correctly, garage door has been replaced but the electrical still needs tackled, no doorbell, no fire alarms or carbon monoxide alarm, no working outside lights, a severe mice infestation (who have now raided my brand new couch), no insulation in the mudroom which is allowing cold air into the house and raising my heating (propane!)

She could barely afford to pay rent in the beginning what she gonna do pay a lawyer????? 

The agent called the condition of the comp good versus it was barely OK.  

I needed to paint a house once and the bank barely gave me a loan.  

Your barely over 11% in equity before rehab. 

Assuming A and B are not two halves of the same duplex, I think you will look a long time (maybe forever) before you would find a lender who would consider equity in one property as a downpayment toward another.  

If the area is in pink, it is a preliminary map that will  require flood insurance upon adoption, if it doesn't require it now. 

I've found one good deal and have barely enough for the standard 20% down.