You will want to get into any basement, looking at the foundation (cracks, leaks), mechanicals (age, condition), noting if they are separately metered or common meter. 

Also I like tenants that wear multiple hats such as a construction worker that does mechanics as a side gig.

you wont  be able to  use any rental  income  in  qualifying for the  refinance   ( you will need to provide tax returns   showing  rental income having been  received and  reported to be able to do this ) thanks I spoke with my lender and my agent about this a month ago.The appraisal would have to come in at $815,000 to wrap my current mortgage + portfolio loan in a 30 year fixed rate-current rate for mortgage is 30 year at 2.9%-current portfolio loan is 4% with no set time payoff The comps that my agent pulled showed a market value of $750,000 (but this didnt take into consideration all the mechanical upgrades and remodel that could push up the value)  I spent $150,000 on the remodel between labor & materials & mechanical My mortgage lender said my debt to income is fine and I wouldn't need the rental income to qualify for the refinance.I do currently live in the property right now. 

It was an old farm with a Commercial, two story mechanics warehouse, for $100,000.

You can also opt into title insurance, this protects you in the future against issues that can include mechanic leans, encroachments etc.

Her husband works full time as a mechanic and makes about $38,000 a year.

If you were to look at a detailed calculator, you’d see drywall, the level of quality of the kitchens and bathrooms, the floor coverings, type of roof, and even the types of mechanicals in the building.

The mechanics of wholesaling differ slightly from state to state, but that is why you hire a lawyer. 

@Jay Hinrichs - on the options, what are the mechanics of you getting paid as the Optionee - would you 1) Assign the option to your buyer2) Enter into a P+S with the seller and assign that to your buyer3) Do a double closing4) Get an option 'cancellation fee' (on the seller side of the HUD) as your buyer buys from the seller for the price he agreed to buy it forJust curious, I've done all four.......R  :)

(The mechanical room had a ceiling light with a pull chain.)