There is a difference between being incompetent and managing your time and money (establishing priorities).

Any person, individually or jointly owning a property insured by HUD, may not purchase another primary residence with FHA mortgage insurance unless one of the following occurs:o The borrower is relocating and establishing residency in another area not within a reasonable commuting distance from their current primary residence.

I don't want to tell him to get out of the contract because I am new to this, but I'm pretty confident that this is NOT a good deal, especially since he is just a wholesaler.If it had been me, I would have tried to establish an ARV before anything.

I feel that if people invested more in others not just money or collection of money it would go a long way to establish a positive relationship between tenant and landlord.

However, you need to establish relationships first, there is no magic list.What is your purpose for finding IRA investors? 

Of course you also have to know enough about real estate in your market to be able to establish a good ARV (something I'm still learning) as well as enough about contracting/rehab to estimate repairs fairly accurately.

Under his leadership and guidance, MADE SPA, an organization established in the 1800s by his forefathers, continues to win construction contracts both in the private and the public sector.

My suggestion is to establish relationships with several wholesalers, in order to gain exposure to a multitude of properties monthly.  

While a few landlords of high-value retail properties demand established, national brand tenants, I expect you will have several properties to consider for your concept.  

The question is take a bit of a gamble and learn the business through joining the Brokerage Team?