There is work that needs done on the property, so we'd have to be creative with where we pulled additional money from.

I know that's the case around here, additionally rental demand for SFDs are higher than multis which can result in better tenant pools.

Stairs are additional.

Also, had a wholesaler tell me when I first started that he would buy a home and sell it to just make an additional 5-7k on it.

.-  Basement is unfinished but has some existing plumbing, garages, finished walls,  etc. and I conservatively estimate $30,000 to build out each of 2 additional  units

In addition, it could be that the seller has died.  

I'm looking to make connections in my local market in addition to learning as much as possible from the BP community.

Additionally, he was very clear he didn't deal with third parties and would not wire money to attorneys or closing agents and certainly not before receiving the fee.

Please have the background check, credit check and check his employment to make sure how stable his job is.By then, you will get the full picture and let those guys know upfront that you are planning on inspecting the property for pot smell every month or quarter - if they are still doing drugs they may not lease and if they they lease after your warning about monthly inspections, 99% of the times they must be clean.This is what I would do if I am in this situation and not sure if this is best solution or not though!!!

Of course, there are good opportunities all over, but I think you can find a solid B property closer to town, which means closer to big employers, night life, etc.