I was considering a third purchase- out of state turnkey property, short term vacation rental, SFH, codo, etc then I started doing some thinking...My ultimate goal is to own enough property within the next 5 years to supplement my income and cut back substantially. 

I want to learn from the best and really build a professional real estate investment portfolio to supplement my income and provide more financial flexibility and time for my family. 

The letter is a generic letter stating we pay cash for houses in any condition, blah blah blah.

He is even supplementing the deal with a cash supplement of $1,050,000/ yr until the debt is due in full June 2018.  

My goal is passive income through fully managed rental properties to supplement my income.

, you could check how long the seller owned it and things might make more sense, the landlord should have had some photos prior to tenants unless they inherited them, also if you look at rentals always make sure the seller passes on the security deposits, the realtor could get some generic photos of inside at the tenants convenience but for some reason does not want to or there is more to the picture, say foreclosed on occupied building and wants easy flip, also check city records of the address, say foreclosures evictions court cases but sounds like too much work for too little $ , if they agent doesn't take you serious there are other places and agents that will

Does anyone have a generic contract that you've been using to make offers in Memphis?  

Typically they will be able to qualify 75% of the rent as supplemental income.

So a lot of people say get a list together and mail a bunch of identical/generic type mailers.

I'm more interested in buying and holding small multifamilies to supplement my current income stream (I work in road construction).