Two questions, What type of buyer would be ideal for a subject to wholesale?

What area of Austin (zip code is ideal)?

I deal with that all the time. what I check if a person has an "undocumented status" and/or "undocumented" income/work is the following:1. current place where they live and reason for moving - this gives me an idea how my place will look like when they move out2. 2 or 3X security deposit. 3. verification of income (if they have bank account). many of them have TIN number that allows them to open bank account. other's have some sort of bank in their ethnic credit union...4.

An ideal lease would require the tenant to pay as additional rent the property taxes (or at lease all increases over a base), as well the property insurance.An important consideration is the financial strength of the tenant.

IDEALLY a 40 hour work week is preferred, but clearly am willing to put in the necessary time to succeed, whether it's 50 or 75 hours.

It has the following details which I think would make it ideal for an investor:The seller of the note is investor friendlyThe property has 200K equityProperty is almost fully leased and cashflowingThe owner of the building is cooperative and willing to negotiate.The current balance on the note is 572K and it is being sold for 390K with financing possibleIf you or anyone else is interested please contact me and I can send more details.Thanks

What would your ideal note look like in terms of borrower credit score, LTV, Rate on the note, yield after discount, etc.?

And if so what would that sponsor ideally look like on paper to be able to do it sooner ?  

After that, we plan to purchase cash flowing rentals in the area or neighboring cities that ideally that need some work.

Even if you don't intend to become a wholesaler, wholesaling principles are built around finding profitable deals that no one else has found, so learning these principles could be ideal for your situation.