However, I've seen the full income statement from the last 2 years, and the previous owner hasn't been making nearly as much as I would expect, mainly due to high costs.First question: should I be worried that this is a lemon... or is it an opportunity?

I went last night for the first time.

Hello @Robert Boyer, We have a Networth office in Tampa, Florida; and, I have communicated with several of their employees within the last few months. 

For example I am closing on a deal in November and the closing date is suppose to be November 14th, but do to the obligation of their current mortgage what we negotiated is that we will close on the last business day due to certain payments etc.

Hey Cha, One of my clients ran into a similar well issue around this time last year. 

I am thinking we should do those last as the non-recourse lenders seem to be the least picky about where the down payment comes from.There are 2 duplexes that we (3 way partnership) are planning on using commercial lending for.

They may be under the p false impression that their deposit can count towards the last month of rent.  

I'm a full time IT guy that has purchased, rented, and sold a handful of properties on my own over the last decade.

I am not sure about the last sentence , "...unless Broker currently has or enters into an agency or Transaction-Brokerage relationship with the seller, in which case Broker must act as a Transaction-Broker."

I actually came across a note last week that cannot be foreclosed on (previous lender tried and judge ruled in favor of the borrower)