They will suck the life blood from you.

Conventional for mixed use financing will require:The property must be a one-unit dwelling that the borrower occupies as a principal residence.The borrower must be both the owner and the operator of the business.The property must be primarily residential in natureA gift can be provided by:• a relative, defined as the borrower’s spouse, child, or other dependent, or by any otherindividual who is related to the borrower by blood, marriage, adoption, or legal guardianship;or• a fiancé, fiancée, or domestic partner.The donor may not be, or have any affiliation with, the builder, the developer, the real estateagent, or any other interested party to the transaction.Gifts must be evidenced by a letter signed by the donor, called a gift letter.

My "uncle" ( not related through blood ) who has no next of kin except for his sister and children. ( my uncle and his sister have absolutely no relationship, and he has no relationship with his nephews or neices )Wants to give me his business and the land it sits on.

It seems you have real estate in your blood in more ways than one.

Even if it costs a couple thousand, that's a rounding error on a $2.2M project.One other consideration is that developers earn their money the hard way, with blood, stress and tears... and more stress.

Are you coming across as a shark smelling the blood in the water, or do you really want to help these people and make some money in the process.

Also because usually all uits are the same age, you have the same thing go wrong around the same time, costing double for repairs -Ex: one 20 yr old AC unit goes bad - two months later, the second 20 yr AC unit goes out.so those are things to think about...As a first time landlord 3 tenants may seem a little intimidating at first, but you may find that much like wild animals, many times they are more scared of you, than you are of them - just don't let them smell blood, cause they can still be dangerous.

I'd like to bring in some fresh blood : >Joe, I pm'd you.

While he too got a divorce, "his" business was not sold, no or little equity really, she didn't go for blood and his tools of his trade are protected.

That said, I personally don't advocate the shark approach to wholesaling, trying to squeeze every drop of blood out of a deal.