So if you see them in syndications I would assume they are relatively new apartments and it would be a loan assumption.In your case if the loan is large enough (~$1M) and the property qualifies then you should be able to get 7/10/12 year terms with 30-year amortization in the low 5% range.

A double around here for that price (assuming it is rent ready) will go quickly. 

@Jeremy Kuchenbecker I’m assuming  that your QI was in place when you sold?  

@Heath Reid Assuming that AL laws are similar to MA, you'll have to honor existing leases.  

Any time the deed changes hands, you’d have to assume there’d be a village inspection.

Is there a good way to offer without being insulting or just send an offer assuming the owner knows they are overpriced?

I assume these terms were coined at a time when information was directly available for a specific property (eg. a hotel).

Also a surprise, Texas has an 8.75% sales tax so I assumed any added cost for shipping north would be offset by the sales tax. 

It seems from what I read there that you wholesale a subject-to as you would any other type of wholesale deal; however, if the end buyer is assuming the remainder of the seller's mortgage, is the remainder the amount that is written on the Purchase and Sale agreement?

I'm assuming that is $200 after all expenses including mortgage?