I have purchased many properties without a tenant in place.

A few years ago I purchased a property that was significantly worse than negative $5k/month cash flow.  

Most buy the entry level SFH because its what they are qualified to purchase.  

The seller purchased the property to do a favor for someone and the person died.

It appeals to desperation on both sides of the transaction, which also makes it a great online class to sell... 

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 Purchased off-market from a tired landlord, this fix-and-flip involved renovating a distressed property with outdated features and deferred maintenance.

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 A fix-and-flip project purchased off-market from a tired landlord involved buying a distressed property with significant deferred maintenance.

It allows you, the wholesaler, to transfer your rights to purchase the property to an investor.

@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

The best way to learn the multifamily market is to purchase a multifamily property.