@Alex Messner, your decision, amongst other factors, mainly depends on you and your wife's financial profile. 

She is meeting on Wednesday to take the listing and find her a new home ( probably one of mine though LOL)    But that is what I see the main difference in wholesaling without a license and licensed agents who do it for a living. 

The main differences (besides rates/underwriting guidelines) is what you can include in your renovation costs.

Both Fort Lauderdale and Pompano attract a lot of visitors. 

Everyone was on bottled water for months.You may want to ask for proof that Flint is growing or attracting business investments.Now Detroit is an entirely different story!

I live on the main unit. 

PachalAUTHOR · CONSULTANT · SPEAKER · COACH · INVESTORSubject2Institute.comRegarding the insurance aspect of a subject to deal, what are the main questions you would ask an attorney to ensure the deal is structured correctly as it relates to the insurance policy?

While the image of yours I found seem to show the main entry to the 2nd floor at ground level, the older the prospective tenant, the less interested they are in a non-ground floor unit. 2) Using another part of the property as storage could limit interest and I could see that as a turn off with folks once they find this out.FYI, the listing I found on realtor.com makes no mention of the tenant not having access the entire property or the basement being used as storage.

My main question is will I be happy in 10 years that I bought this property?

Short term it is difficult to make the numbers work, the cost of new construction and the time it takes to zone-plan-build are usually the main reasons why private investors stay clear.