Legitimate new to the space/idea potential parties, usually Buyers, will fall into the trap and get stuck until they get frustrated and walk away condemning the whole thing a unicorn.  

In my opinion, it is a perfectly legitimate way of preliminary screening.

and also had in there that they would pay $500 over and above any legitimate offer.

They also have  a newer ML 350, a corvette, large RV, small RV, larger motorboat, smaller boat (not sure), and some early 2000s Acura.The sad thing is, that it is a major risk for these tenants to accept a better paying job (or any job that does legitimate payroll) or just get married .. because then, they lose the voucher.

Can I give him a 48-hour notice by mail that I intend to come in and fix a legitimate issue?

And yes, if I heard Vincent correctly on a couple of his podcasts, the only way to truly "wholesale" a property is to PURCHASE, mark it up, and THEN re-sell it as the legitimate owner, OR --- fully disclose that you are NOT the cash buyer, but that you intend to sell (assign) the sales contract itself- NOT the property to a buyer for a profit.  

I've actually been trying to come up with a legitimate mission statement and vision for my business recently.

If it turns out that there is zero to little deferred maintenance and that the pro formas for the expenses and rent growth are legitimate/accurate, then I think 10.5% return for a cash purchase is fine.

I don't have as any units as he has, but I very rarely get a call that's a legitimate emergency.

Somehow. we need to balance healthy respect while aggressively pursuing legitimate opportunities, with hedges in place.