We have one or two quality wholesalers that we are open to working with.

But in my opinion, the biggest issue I see with folks jumping into their first "big" multifamily deal is the quality of the pro forma. 

Are their listings detailed with good-quality photos?

Roof repairs, broken this, broken that.

For flips, calculate the after-repair value (ARV) and subtract purchase, rehab, holding, and selling costs.Pay attention to location, rental demand, and the property’s condition.

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

They offer a $10K repair fund to fix damages in addition to SD plus warranty for appliance repair etc.I have no say in whom they choose to move in, whether there are animals, limit on # of occupants etc. they reserve right to inspect property so i have no idea if they can tell me to remodel, paint etc.does this make sense i have a vacancy coming up in October (bad rental timing).

I know sometimes no matter what everything just isn't for everyone however if you stick to quality service you'll hit the goal more times than not.

DOM can be minimized by a number of different factors including the quality of marketing, rent price, availability to show. 

Remember to save some money for capital repairs.