Get out there and see what the market is offering so you are number crunching with some perspective.

I intend on wholesaling the property but chose to analyze this deal from the assignee's perspective and will subtract my assignment fee from the offer price. 

How is buying a single family for investment purposes different (from a lending perspective)?

Although, the idea of buying a tear down is appealing from a development perspective but I not at that point in my investing career to take on such a project.

From a cash flow perspective its going to be easiest and most straightforward to make an ADU.PM me the address and I'll take a look and give you some ideas.

What kind of tenants are they from the legal perspective?

Note that depending on your state of residence,  a LLC may not be necessary from a solo 401k investment perspective if your state offers creditor protection to solo 401k plans which is determined at the state level.

Very different from tax perspective if you ever decide to sell the property. 

I’m a new investor and truly appreciate your honest perspective.

I have not looked at Homeunion, I have reviewed roofstock a few times (I like that they post "whole portfolios" for sale, that is interesting), but I have been using Memphis Invest for roughly 18 months now and I have several properties with them.My experience is that they are indeed HIGHLY professional and control all aspects of the deal (most importantly from my perspective the property management).This isn't a commercial for them, I am just a customer of theirs, I don't get any remuneration for recounting my experiences, and if they were bad, I would recount them just the same.Memphis Invest is very transparent, they will provide numbers to their clients that list statistics across their 5000 property portfolio.