Always make sure they have proof of funds in their name and not a 3rd party.

Send me over your written offer along with a 10% escrow deposit and a rock-solid proof of funds (from a local banker I can call to verify) showing you have the other $810k in liquid cash"Wholesaler: [Stunned Silence]I write this not to poke fun at @Lena Claybon or anyone else.

It won't hurt to let them know, in writing what your intention is and get their blessing.  3) From my personal experience, take the time to sound proof the basement unit, you will have a much easier time renting it and you'll enjoy living there more.

@Zack EllardIn my opinion/experience, the biggest pro of buying a turnkey property is that you will be eliminating time and risk associated with finding a deal and rehabbing a house.

Nothing is bullet proof, of course, but I am not going to put properties in my name alone and cross my fingers either. 

The profits aren't significant, but they are STEADY and RECESSION PROOF.  

You are willing to pay what you are willing to pay, and you should know what's a fair offer; but so should he.I think the skill in negotiations is to identify what is "fair", then tamper it slightly to your advantage.

And yes I asked the seller for the certificate or some sort of proof.

If you have proof that this is a medical condition you need to mitigate you may have some sway with the land lords... but I doubt it.

(No structural changes)Repair rear deck and front porch to usable condition and paint apr. 250 sq ft total (remove & replace 4, 2x6x8 deck boards)Floor repair where needed near back door (attach 3 2x10x8 floor joist to existing floor joist to reinforce soft floor) install new subfloor in area of repair.Drywall repair for bathroom, closet, laundry and master bedroom areas where needed (up to 200 sq ft with knockdown texture)Skim coat areas of house with dated wood grain style texture and re-texture where needed (approximately 1200 sq ft) Install bathroom vanity, sink, hardware etc. (36" vanity)Install kitchen cabinets (8 base, 6 wall)Install appliances (dishwasher, microhood combo, electric range, fridge)Install new plugs and switches entire house (14 switches, 4 GFCI, 36 grounded tamper proof plug ins)Install all light fixtures interior and exterior (15 total)Install counter top for kitchen (white quartz slab / granite or tile 32 sq ft "never formica for our flips")Paint interior walls and ceiling one color and trim one colorInstall interior doors (pre-hung 6 panel @ 10 doors)Install interior trim base, window and door trim (approximately 1200 L/F)Install windows where broken @ 2 (24x24 bathroom window, 36x60 bedroom window)Install all flooring, carpet (500 sq ft) laminate (1,000 sq ft) sheet vinyl (100 sq ft).