Make sure you all come to a complete understanding before you start drafting any documents.

I have a decent grasp on the process of completing a wholesale deal from start to finish but need to start changing my theoretical knowledge into real world experience. 

@Tyler Martin You can shop around and pick a completely new lender if you like.

We lived through one for my son's new build & it was all over the place for pricing/subs/supply availability & we even added a prayer for on-time, on-budget completion!!!

The commercial space is occupied currently, but the two apartments above are vacant and need a complete rehab.

That means that NOI in year 2 would be $5,100 (still a growth of 2%).That's right, complete brainf*rt in here.

I can get 550 a month on the 1/1's for sure and even at that rate the numbers are very favorable being every unit will be completely rehabbed, so from a cash flow standpoint its good.

Although I would prefer section 8 tenants it just sucks the amount of time it takes to get the inspection scheduled/completed, then pray that your apartment passes or they will have to come back and reinspect, and finally have the apartment approved. 

We only show to people who have been completely qualified by our process, and that becomes a very small number.

(This would likely take 3 more years to do completely)-Would you recommend single family homes or multi unit buildings for a first investment?