But too, we need to visualize how we look to someone we want to borrow money from. 

And lots of newbies are misled, and the calculator does decidedly nothing to expand your perspective so you can visualize the nuances...Hope this helps!

Here's a quick summary of what you need based on my approach (others may do it differently): Identify a market that you want to wholesale inFind and/or buy a list of high-equity homeownersSend out yellow letters to the list with a phone number that goes to voicemailWait for calls to come into your voicemailReturn the calls, identify motivation, gather intelligence (address, motivation, asking price, etc)For properties that meet your criteria, make an offer using this formula (ARV * 70% - Rehab Costs - Wholesale Fee)Get a signed accepted offerHaving someone on the ground visually inspect the property, negotiate price again if the rehab is greater than you expectEither open escrow and buy the house and then dispose of it a number of ways or find a cash buyer and assign it to them.That's essentially what I'm doing in a nutshell.

There has to be a balance.The visual impact of that roof can be an issue, but that isn't something that pops up overnight, you can observe the condition over time and estimate replacement.  

How many people believe potential buyers can see past an empty space and visualize the potential? 

Re: webistes for multifamily properties, here are some more: -Sperry Van Ness Commercial Real Estate: www.svn.com-CB Richard Ellis: www.cbre.com-Hendricks and Partners: www.hpapts.com -Commercial Investment Multiple Listings Service: www.cimls.com -Property Line: www.propertyline.com -Realtor: www.realtor.comRe: partnering question, perhaps it is right for you - perhaps it isn't.

If you have no leaks, I would focus on using your rehab capital on the visuals in the home for a wow factor.

If someone could help me visualize walking through this process that would be AWESOME! 

Whether you exceed it before or after the loan is made doesn't alter the risky-ness of the situation - the risk to the bank.  

Some had open blinds/or no blinds, and hope my visual checks of exterior helped.