Lot's of wholesaler books were written in down markets many years ago and that stuff doesn't really fly today.

I often put in the general "due diligence" contingency in all contract amendments for my clients...sometimes it flies, sometimes not so much, but we figure out a way to work around it.Also, "as is" still provides you with the opportunity to learn what exactly that means.

Transfer Tax and Broker Fees) = - 132,250.00Interest to Hard Money Lender ($1,068,070.25 @ 10% APR, Funds were provided as needed, Up to C of O was Issued, Total 16 Months) = - $166,778.11Total Construction Costs = - $982,680.00Total Profit on Deal = + $228,291.89Scarsdale Homes Fly Off of the Market along with other Westchester County Areas.

Did you fly out there?

When the housing and loan industry melted down the world's financial system in 2007, George W said if the choice was between being Herbert Hoover or FDR....he was damn sure going to be FDR.The same principle applies here in my opinion.

Flying blind on the location, size of rooms, and quality of the rental. 

I would put in something like -- offer subject to satisfactory inspection report-- that may fly depending on the lender.

I own a 4 plex, 1 single home, 3 x Duplexes , the good properties in good shape typically fly off when they go for sale literally in one day, usually ones you see on market are ones need quite bit work to get them to rent.

You also want to be able to switch coverage on the fly between a property being vacant, occupied or under renovation as sometimes you might experience a longer vacancy than expected during a turn or have to do a more major renovation after many years.Also, all "personal" policies and "personal umbrella" policies have what is called a "Total Pollution Exclusion."

HAHAH @Chase Hoover, the 1980's would like that little bit o' slang back. :)