Assuming he actually is open to selling, your offer should show him that you're providing value to him by freeing up his time (which sounds like he doesn't have enough of).

It sounds like you are a one man show right now.

They will be able to answer your questions and help you get a clearer picture of what a successful deal looks like.Assuming you need financing and you need a developer/operator in order to bring your deal together (which it sounds like), the people who occupy those key roles will make or break your deal and bringing a deal to the table that satisfies their requirements and that they view as a viable deal will greatly advance your learning as to what the critical factors are.Every market will have different dynamics which will affect your build to cap and it will depend on your expectations as well as the expectations of your investors and lender given the market you're operating in.As for stabilization, I typically see 18-24 months budgeted but a good operator can get it done in 12 with proper pre-marketing and solid market dynamics.Get a feasibility study done before you close escrow if you've already targeted a specific parcel.

Hey @John Michael Rico,  not to sound rude but if you "think it's 4 units" then you definitely need to get a competent contractor out there to help provide comments and a quote for you.

But in so many words, it sounds like he wants more money.

Yep ... the fact that it is very niche, requires specific knowledge that not everyone has to spot things that nobody else even knows how to look for, and capital intensive is the very reason I'd imagine it works so well ... sounds like it would be the type of strategy right up my alley, actually ... would love to chat with you about that more offline if you're up for it Jay, or online is fine too, but may be straying a bit from the OPs original topic at that point.

We are very much in the early stages of research, identifying how our wish lists align, location, etc...

Had some cash saved up from working a full-time job in logistics and a part-time job teaching tennis, and bought a fixer-upper for $29,000 with a tenant in place at $700 (sounds like the $30,000 pig, right?)

All i'm asked to do is use my credit score for them to secure financing and i collect when they flip it.to be honest, this sounds way too good to be true. 

600 sounds like a good target for me.