You also may get tripped up by other things like proper support in the structure, ratio of windows to the buildings envelope (I'm not as familiar about this but have heard stories), etc.For some properties this added cost and hassle may be worth the investment to change the use from residential to hotel.

I’m developing cold feetA contract that favors the seller and a standard Minnesota contract for deed.

There is the possibility of expansion as we are going to get about 15 additional Acres that have not been developed yet.

I know that evealuating mulitfamily is based on income but if he os not able to provide proper financials what should I do?

So glad you've discovered Bigger Pockets early in your real estate investing journey...sounds like you've already developed a great plan to break into real estate in ATL.A few tips that may be helpful to you here on the BP website:You can set up keyword alerts so anytime someone posts about Atlanta or any of the specific neighborhoods you're evaluating, you'll be notified.

Or in other words, 99% of the RE investors are not RE agents :)You don't need the exam to develop credibility.

You need to talk to your professional about your income level, goals, and future expectation to draft proper depreciation election if available.  

Can somebody please respond or point me to a post that will help me learn how to do proper due diligence on a wholesaler before doing a deal with him/her?

So case law as it has developed has created a scenario where the QI needs to keep your money under their not your control until there is no longer the opportunity to complete an exchange.The first time this happens is at day 46 if you don't turn in a 45 day list. 

I think it would be very difficult to enforce the property delivered vacant as the tenant needs to be served proper notice.