I'm familiar with how wholesaling a residential type property works if it's extremely run down and what not, but what about with commercial?  

This particular apartment, and probably most of mine, does require minor cracks and whatnot to be filled prior to paint.

.,  But the most important thing is making sure you do something consistently.In terms of software or programs and whatnot, I find Outlook, Excel and Google Docs to be all that I need.  

Most if not all of the problems you mentioned are either preventable by immaculate screening standards, well very thought out home guides, home rules, record keeping, deposits and upfront clear communication of what not to do and what the consequences and have people agree with them BEFORE they stay.

This is all from research, I have not actually been a witness or participant in any type of deal, so my knowledge of processes and what not are spotty. 

I'm having second thoughts looking at my math and what-not but I wanted to hear everyone's opinion since this is my first property.

You will unfortunately need to file an FED request if they stay-over, with new proper notices and whatnot.

usp=drivesdkI still need to look at all the upgrades on every unit through zillow, redfin, and whatnot.

As an example of what NOT do when it comes to real estate investing.I read online about this "vintage" 34 room motel that recently sold for $5,250,000.

Good things can happen from this, but I must give you one piece of advice that you cannot take for a grain of salt.There are no groups of people that are more notorious for shooting themselves in the foot when it comes to real estate than:A. a group of lawyersB. a group of doctors/medical staffC. a group of teachers/professorsFor some reason, despite their high IQs and whatnot, they get into horrible deals time and time again, and their real estate careers typically last 1 or 2 deals max.This doesn't have to happen as long as you're ultra consercative in all estimations and calculations when landing your first deal.