I would agree with you that 1200 is high given the data you shared.  

You can combine data from the Revenue and Occupancy charts to come up with something like the picture below.

More buyers in the metro areas, Omaha for one is seeing a bit of a tech boom getting new Amazon, Facebook, and Google data centers. 

This is uncharted territory for me, and yet an invaluable experience.

If there is a difference in value, whoever brings the lesser value property to the table pays a "boot" to make up that difference. 

If the investor had to sell right away for $240k, with closing costs and commissions, they would most likely lose money.The other key point is without any improvements, the new appraisal will be $205k, the price you sold it to an investor for, not the $240 comps in the area.Wholesaling works best if you can find an off market fixer and the rehab the investor puts in forces a significant improvement in value.

But, when you purchase a 4-unit property, or something larger the property is not considered to be sort of a commercial property and I like to think of a 4-unit property the same as a business like a liquor store where the higher the sales the more the liquor store will sell for.Four units or more will appreciate in value sort of exponentially when you increase rents and a single family property will not.

Often times you get better matches when you skip trace with the data provider when procuring the leads.

That data certainly feels true on the front lines.

Then, skiptrace the data (you can use Batchskiptracing).