First have a Master Agreement concerning what your overall objectives and definitions are.

Quality and consistency of cash flow is at least as important as the quantity, and that comes from quality tenants, who want to and can afford to live in quality property, in quality neighborhoods ... it is ok if the property needs a bit of work to fix into quality, so long as the purchase price is discounted accordingly, but you can't rehab the neighborhood it is in ... cash flow does you no good on paper if you can't collect it in reality ... and even if you can collect, if you have to chase tenants all over the place to get it, it is just not worth the effort in most cases.

In this process the sister/wife who lives in the property with the husband files petition with the probate court (not a formal probate) sends letters to each of the heirs stating in this case that each will receive 25% ownership and if there is objection then a formal hearing is held.

Those attys are likely to be more cost effective and objective. 

Alex King it really depends on your objective, appreciation or cash flow.

Also, what are your financial objectives for the investment (term, rate of return, size, etc.)?

That's just the realities of the Southern California market.I'm not gonna call people who buy out here where I live crazy, as everybody has their own goals, but people are certainly not buying with cash flow as their primary objective.  

Your cash flow is not a given.I would back up and ask yourself what is your objective. 

I don’t think he will object to it because I’m sure he is not enjoying these discussions either.

With wholesaling its about marketing and sales....overcome objections....solve problems...negotiate wholesale prices....control the property....assign/double close...repeatThere are other exit strategies too