Tough to find something that fits that criteria that will cash flow adequately in this market.

@David Song but do you already have an adequate water meter installed at the property?

I definitely agree with your other 2 "ingredients".Ultimately, in my opinion a good wholesaler will have the right business partners and adequate knowledge already in place to provide true and accurate figures to potential buyers.

That many units, at 50% LTV or less, there should be adequate cash flow to sustain the properties AND live off of cash flow.

What's required to raise the rent is adequate notification to the tenant or tenant's representative that you intend to raise the rent.The pros, when you screen your tenant correctly, is the check shows up every month like clock work.

Check on the NMLS lookup to see if the lender has adequate experience. 

Make sure you have adequate capital or have lined up a capital partner      2.

@Victor OlveraMultifamily investing is a very complex process.You should get adequate knowledge of real estate and strategies you are planning to apply.Also explore various financing and partnering options.You can start by joining local real estate clubs, attending meetups and connecting with local agents and investors.Do a thorough local market research and analysis.A local Investor-Agent can help shorten your learning curve and save you a lot of headaches as they tend to understand the market better.Here are steps for getting started as a real estate investor.1.

This satisfies Fannie Mae, so it should probably be adequate for anyone.

So yes if you want to pick someone who came and has adequate income over someone who does not that's okay.