If someone now claims they have under those circumstances, I'm sure they are lying or the judge was related to them or the seller had the dumbest attorney alive.So, wholesaling as it is taught by the gurus has 3 areas of concern, all can cause you a greater financial loss than what you might be trying to make.Now, does that mean wholesaling is dead or can't be done legally, without risks managed, in an ethical manner?

On the other side, there is enough concern about rates going up that there aren't people willing to lend into this space at less than 5% on long term money, especially since debt gets deflated with inflation.

Lastly, do I need to be concerned about short-term exit strategies on a turnkey?  

I wasn't concerned about the quality of work they did because I seen them on another job and the work was good. 

That has been a concern as to how long into 2016 I should wait.

I never would have thought attempting to help a tenant out like this could be a legal concern.

Can you describe the appreciation concern in more detail and maybe describe how a "typical" deal is structured in a pro forma?  

It does concern me that I can't walk through the property but I've tried to factor that into my offer. 

The deal becomes far more palatable with a larger spread.I'm not overly concerned with making a killing on this first deal (although obviously it wouldn't hurt), I really am looking at it as an opportunity to get some hands-on experience, and to enhance my ability in assessing repair costs and my knowledge of the local market.

There are other FHA requirements concerning which you should contact your local lender, but determining whether or not a triplex or fourplex meets the self-sufficiency rule is a good place to start as this rule will immediately eliminate many properties from your search.