The broker might be saying their price is a 5 cap, but if you dig into the financials there are probably a few expense line items missing from their pro forma, making the actual cap rate lower than 5.Betting on market appreciation on an already skinny deal isn't a great move.

Many wholesalers now are just doing robo calling and trying to get folks on the phone I get one to two of those a day.. most I don't talk to some times I will .. many of these are using off shore call centers so semi broken English reading form a script.. but they produce leads.. its just like buying a car.. the sales guy ( telemarketer) then hands you off to the closer.. then you have the I buyers backed by wads of VC money big advertising budgets and super sophisticated web sites that spit out automated offers.. the business is changing no doubt.. and there is no doubt like Will Bernard stated its probably the toughest thing in real estate to master ergo 9 out of 10 never get past first base.. 

Also your wholesale buyers will certainly appreciate the efforts and one item missed, but caught by them will not ruin your good name.For the second question, perhaps you can find a contractor and form a relationship with him.

You can not ratio and pro-forma your way through assessing any bar business.

Make sure you use a pro forma that you can understand and know exactly what could go wrong.

But if you form a new LLC, perhaps its OK.

All you can do is estimate from historical data and after all, it's really only an issue for financing and pro-forma budgets, just build in some slack.

why not form a separate entity that has a broker in charge that is like a sister company that handles the sales etc therefore making you an owner so you can take the agency cut that way.  

Give it a try @Carol Venolia 215 is just another part of your form.  As

Form a company and start soliciting owners to manage their properties.