Thanks @Don Konipol, but I can’t take all the credit here.

You don’t need necessarily need to build credit.

We consider background checks and credit checks only good for 60 days. 

well as I posted last week Oregon is now going to require wholesalers to be licensed they have carved out a special license for this activity.. those wishing to continue to wholesale will need to do full criminal and get a bond.. some will not qualify as they have bad backgrounds or crappy credit.

I would look at it in terms of whether you can afford a worst case scenario where you're covering the deductible and have a credit line or cash to front the re-build cost and getting reimbursed from insurance afterwards.

I left of the last R because even though it would like to repeat in Brooklyn I'm not sure my credit will stand it at this point.  

Any prospective resident with bad credit or a prior eviction is going to have an impossible time finding a place to live.  

This is not the lowest-end property you can find in these areas either. 

So act quickly, do as the others are saying and screen him according to your standard criteria. credit, references, eviction history, etc.

At the numbers you are talking about and where the market is heading you could pick up some very high quality NNN national credit tenant properties as commercial continues to recover.