The Broker said the owner would not consider an offer based on my estimate of costs, even though they appear reasonable for third party management and services.

@Andrew FeilIf you decide to sell, consider an IRS Section 1031 tax free exchange to defer your taxes.

These two questions will give you a reasonable idea of whether these sellers will consider an offer that will allow you to wholesale the deal or not.Now, if the house is worth $280K and they're renting it out, there's a reasonable chance that you're going to have a hard time wholesaling it, as the buyer would have to take on the renters until the end of the lease, and most rental properties in this price range are generating much in terms of cash flow (what many landlords are looking for).But again, you need to ask all the questions before you know what you're up against...

Hey Daniel,I am a part time investor in Birmingham with what I would consider an intermediate level of experience.

If I were to consider an offer on a duplex how can I build my portfolio with this offer?

Consider an exit strategy if you buy a property and it doesn't work out for you.   

Mostly, I would stick with residential...although under the right circumstances, I might consider an office or retail property (industrial areas and industrial properties carry a lot of environmental risk and probably best avoided) That is my 2 cents.

If it has a business intent, I suggest you consider an LLC.

Depending on how levered you presently are, I don't see why you don't go with the ARM.If you don't have a use, I don't know why you would consider an ARM in this rate environment.

Either way will have you paying more in annual fees to the states as well as preparation fees for tax returns.You may want to consider an IL Series LLC.