Full disclosure: I work for an SDIRA custodian.

Full disclosure, this is my first time really digging into a multi-family deal, so I'm not confident in my analysis at this point.

A homeowner can decide to sell to a wholesaler instead of through the public market for several reasons, some people live in hoarder houses and are such ashamed that they don't want to allow any showings, some others don't want to deal with all the paperwork involved in listing a house, all the disclosures, compliance, etc...

"One thing said wrong can open up a can of worms legally, morally, ethically and especially dealing with disclosures and regulations can come back to bite you after the sale".

Full disclosure, AFA working in IN, except for calling a broker, we have no contacts there.

that is a big distinction  and if he is.. then yes I would think you would need some disclosures..

Different banks operate differently.In Texas brokers/agents  give/send a required TREC disclosure about their functions....

They make you sign a disclosure stating that it is your primary residence if you do try to open a homeowner's permit.2) If you purchase the property and you put it in an LLC, you cannot work on it yourself.  

Asking 250kTaxes: $4300Monthly Expenses (taken from the average of three similar houses on the MLS as this one does not include a disclosure) - I am also trying to overestimate the below expenses to give myself a cushion. 

That could have been a really ugly case but luckily I was able to get that one resolved without legal action against new property owner.I mentioned the death disclosure and I know all states don't have this but they do have it in CA and I have worked at multiple properties where deaths in apt. units were not disclosed.