I am using TurboTax.Do I:- refer to the original depreciation schedule and pick up at the level of depreciation that correctly accounts for the years it was a personal residence (even though I didn't claim depreciation in those years)?

@Tom Anderson, I think the agent is referring to a regular1031 tax deferred exchange. 

Hey Everyone,Obviously, being able to provide cash in exchange for the house is the most desired solution for wholesalers.

@Pamela D Williams that is only one agents solution. 

Pete at just over a 6, for reference).

Then you could offer a "couple of solutions". 

We provide a complete JV package, references and for any deal they are considering what I refer to as the "Investment Analysis Summary" document which details the specific note deal, timelines, costs and probable exist strategies.

The offer sounds tempting since  the group has to finance about 3M$ (the rest comes from a bank with a low interest) and the building is bought about 1.5M below value, so when we sell we should expect a 50% return when selling which should be 3 years from now.The thing that bugs me is the way the building value was evaluated, i am copying a section from the presentation:"Market activity has shown similar properties consistently trading in the 4.75-5.25% cap range (refer to “Comparables” slide for specifics).

Can you call those people as references? 

There are several online solution for this.