Then, you'll be in a much better negotiating position because you'll be able to show the seller what the building should be worth based on its income in its current condition - that is, the basis of your offer price.The seller needn't be concerned with the ARV, but it will be important to you when seeking partners and investors.David J Dachtera

I have opportunity to purchase a 4 bedroom 4 bath condo for 99k and of course price varies around that range depending on condition.

The houses are in average condition, great neighborhood and newer 2002. 

It's not frugal or smart), I enjoy all the modern amenities in life (I eat out a couple times a month using Groupon or other deals), I have a newer Ford Focus in mind condition (yes we are a 1 car family!)

Establish condition and comps, etc), another tab for Buyers and their contact info, one tab for Fundamentals (some of the basic calculation formulas and things to think about), and finally, one tab for contractors and contacts in the area to address any potential problems with a property.Create a deal template in a separate file where you take all the info gathered from above and populate the template in order to send out to a prospective deal buyer...And that's as far as I've gotten.Any input on how to get a wholesale deal down on paper would be helpful...I need that too.

Do your final walk through, document the condition of the house, document everything that will stay, and get a big enough security deposit to cover the blinds or whatever if they decide to take something with them.

(It may make more sense to build new, BUT there are a lot of factors that go into it, like zoning and setbacks and what condition your existing garage is in and is there a loft space etc.  

The unit is currently in deplorable condition, including 40-plus-year-old windows and a non-functioning furnace.

Should I put anything that specifies the house isn't in the best condition?

Condition, location and maintenance needs are very important.One tenant factor you may run into is the affordability of c/a.