Okay thank you, I just want to make sure I understand correctly.

I do not know your state laws but I do not believe that is correct.

Feel free to correct me if I’m wrong, I want to be sure I’m not misunderstanding the things I’m learning!

I think you've already received some great feedback from the likes of @James Wise and @Dorothy Butala, so I will try to keep my post short (not generally my strong suit).As has been pointed out, a couple of the assumptions in the original post may or may not be correct, depending on the turnkey provider you use.

I’ll start with your method of analyzing deals.

Be careful what you put in writing,a lawyer can use it against you in a court of law.The tenant is within his legal rights to demand a receipt for rent paid and the reason is not up for debate by anyone.You must furnish a receipt within a certain time period established by your local state law.You can furnish it electronically,US Post Office mail,or in person.Also,that statement regarding possibly moving into the apartment might been seen by a judge as illegal harassment of a paying tenant.You seriously should seek legal advice from a competent attorney and let them write responses to your tenants with the correct legal language.

Of course you're correct in saying that there are many value-add improvements you can do with residential which improve rents.However, when commercial property is evaluated and underwritten, it's primarily evaluated by the numbers (NOI/Cap-rate), where as residential is valued via "comps", which is a lot more nebulous.

@Chris Lawrence Before you close your attorney/title company will do a title search and if done correctly the lien will show up.

Account Closed in one of your posts you noted "As far as the seller goes I have worded it as my partner and I"... this comes off that the seller has no clue you are wholesaling and believes you are the end buyer, correct?

You could also release the other tenant from their lease however the problem will continue with the next tenant.In reality you can never correct a noisy tenant issue except by getting rid of them.