That puzzles me why someone would do that.  

Best,A Puzzled Young Entrepreneur

I'm meeting with my commercial lender tomorrow, putting the cash aside and speaking with a few acquaintances who are already in this space to begin putting the pieces of the puzzle together.

Which was puzzling as it seemed he was focusing more on that instead of making rent as due !

People are probably going to throw bricks at my window for saying that but usually the agents who feel threatened by wholesalers are the unsuccessful ones, in my opinion agents and wholesalers are 2 pieces of the same puzzle, the ones who get that will dominate in their market.

@William Hochstedler --yes, definitely a few moving pieces in this puzzle.

I use 30% of hard cost as the total soft cost in multi.Once you start making sense of those basic calculations you can start solving other pieces of the puzzle.1.

I’m not completely blind to other facets of the investment puzzle, but monthly cash flow is, by far, my primary concern and desire.

They will also be a wealth of info and will help with with all sorts of other pieces of the puzzle you haven't even considered yet (contractors, leases, insurance policies, etc.). 

So I can’t find a simple answer as it’s only one piece of puzzle- as supply and demand have huge impacts.Anyway, the good news is if you are really holding for 10-30 yrs, you don’t have to worry about this (too much).