The first thing I ask is why am I Buying the property.I always look at the exit strategy first, is it going to be a rental, a lease option sell, am I planning on living in it.

Well, what would be happening is that your buyer would be buying your house subject to the existing note, since you can't legally sell the property without paying off that note or transferring the debt to the new buyer.

I almost exclusively sell bank foreclosures for a large asset management company, and I also do a lot of marketing for wholesale deals.

Purchase price: $120,000 Cash invested: $150,000 Dilapidated house.

"It's like selling pizza by the slice".  

You don't have to fit into a traditional "avatar" box to bring valuable insight, so don't sell yourself short. :)This is especially true if you rely on furnishedfinder.com as your primary lead source (which you shouldn't, but that's another post) as when you make that connection with a prospective resident, you are selling yourself as a landlord as much as you are the property as a place to live.

A lot of our housing stock here has finished basements or in-law suites, so with something like that you can generate significant rental income for an inexpensive conversion. 

If you ever decided to sell the building but keep operating the business, it makes it much easier.

Also seems like a lot of MF sells occupied with tenants in place so you just have to comfortable with that and contracting up from and seeing inside after contracting.    1st step is to find a great lender and get pre-approved for a loan so you know what your budget is. 

You’re finding deals to sell?