Consider the crime, get the prospective tenants side of the story, and have a tight lease that clearly states what is expected. 

In my experience, coops are the least practical "real estate" to use for cash flow. 1- Find out what the rental policy is. 2- Find out the ratio of renters to owners are. 3- How will the board treat in-coming prospective renters and how will their approvals work?

You can say to a prospective buyer "pay $xx to me know and you will get this stream of payments with an IRR of yy%".

Regarding vacant unit - if you don't make it appealing to prospective tenants, you will have to either lower rent or wait long for a qualified tenant.

You should also get pictures of the interior prior to this inspection to show prospective buyers and ONLY if asked, you explain that you must take pictures of the existing condition so you can refer back upon your final walkthrough.Never are you legally obligated to inform the seller that you are wholesaling the property so long as you have the assignemnt clause in the contract (or at least that it is not prohibitted).Hope that helps.

i'd go ahead and just put in 35k..some may disagree but those deals don't come around often..i'd rather 'overpay' and still get a grat deal, then miss this deal by being cheap, and then not have such a great deal as the next prospect...is this cash or financed?

Yep, ifit won't pass VA and FHA and you know that, why waste your time and that of prospective buyers (not to mention their money for the loan process)?

The idea of purchasing probate and inheritance lists seems like a good way to get prospects....but what's to stop several people from buying the same lists and all sending yellow letters?

The trick is to figure out what phrases your prospects are searching.

I can't help but say that their website is deterring(sp?)