It's no longer the classic supply and demand. 

Here’s an overview of the deal 👇// 16 year owner // 100% classic units// 33 units in Indianapolis// Avg rent was $400 below marketThe letter cost $1.

I know the classic (and now deeply understood) response of “Do it right, @$$h0le!”

There is some meat left on the bone but not much, unless you have the resources to repurpose formerly commercial buildings.

This is a classic example of a gold rush too many people not enough gold.

You stated you have zero intent to ever pay the properties off so that seems to me the goal was always to sell and re-purpose the equity.

But if you could shave some dollars off with a new rate that might help.Another option would be to repurpose - If it's close to the beach convert it into a short term rental. 

I sold classic cars as a hobby.

Wholesaler,fee taker,etc. whatever you call it if I am the listing broker for my client and you come with the little to no skin in the game you won't be locking up any of my client's properties.If the client demands it then fine but most of my clients are somewhat sophisticated.What I don't like is that in a wholesale transaction the seller doesn't know the STRENGTH or CAPABILITY of the end buyer with these wholesalers trying to lock something up and then leave unscathed if it falls apart.This reminds me years ago when I did residential short sales.I would get calls from sellers who was contacted by one of these wholesalers or a regular investor.They would take all the sellers financial docs and say they submitted to the bank for approval.I found out papers were never submitted or the package was incomplete.The investors never returned papers to the sellers and the buyers were gone "like a fart in the wind".I had to come in and do damage control to fix things.Another classic is the investor gets the seller to sign a quit claim deed and then disappears and now the seller can't sell if they wanted to.We had a saying when we first got licensed as an agent.The head broker said "you learned just enough to pass the test".Now comes the hard part of learning your skill with a proper mentor so you don't "practice on the public".Then he said "you know just enough to be dangerous"So I feel just like new agents some wholesalers cause massive damage out there.We have our contract where the seller allows assigning into a corporation the buyer owns,assigning to another buyer,or not assigning at all without written permission and review by the seller first.I think wholesalers should pay a very hefty fee if they can't perform.They won't do it again and they will think very hard about the purchase price and not over valuing before putting a property under contract.There are a lot of wannabe buyers out there.A broker saves the seller time weeding them out.Purchase price,terms,deal structure means little to nothing if the buyer has a low chance of performing.I don't have anything against people with no money trying to get a leg up.I wasn't born with a silver spoon and had to start out small.Just be realistic and do not try to do a deal you aren't qualified for or have the means of following through on.Partner with someone more knowledgable who can guide you away from mistakes and help you.To one posters comment about we are all in this for the money.I would DISAGREE that that's the only or sole reason.I enjoy real estate on many levels besides the monetary aspect of it.There are many things I could do for money and I wouldn't last long at them for the simple fact that besides the monetary aspect they do nothing for me.

At a minimum I would score it or rough it up and use thinset instead of mastic.In our lower and mid priced flips, we do the classic white subway tile.