I am a 22yr old from Chicago who has a desire of becoming a successful real estate investor.

However, the presence of the commercial tenants often increase the desirability of the property/area to prospective residents.

Not as the burning desire for my lifes work.

I truly believe that the seller has zero desire to take on a project of this magnitude.

Is it bad business to contact the owner of a property that is being sold by a wholesaler to inquire about their desired price to be in a position to negotiate with the wholesaler and not end up paying them a huge fee?

Let me know if you discovered anything else worth doing :)Check if the bank has made any repairs to the homeCheck if the bank has conducted an inspection we could seeCheck the Bank's purchase priceIf the property has any liens on it (http://www.searchq.com/ or https://nextace.com)Should we try and make the Bank an offer prior to the auctionWe'll need to call the title company and verify who owns it (confirm the situation)We'll need to verify we can buy title insurance at closingCheck in with a real estate attorneyDecide if I want to pay for a home inspection or appraisal prior to auction (really not sure on this one - auction is as is no contingency)Estimate the potential rental income for property and run numbers on max purchase price that will support my desired CF given any needed renovationsBest - David

You need to prepare for worst case scenario however upper east side is again some of the most desirable places to live in the US.

. :)Hopefully I can get a little advice on this opportunity.Subject property (on Lake Oroville, CA) is a beautiful 2/2 "cottage" with a lake view in a highly desired neighborhood.

Is it on a good street, desirable floorplan etc. 

Taking out the less desirable places that require more work.