This sort of brings me back to my college days.

I live in the area and know people who buy that sort of thing.

I have to say this is a brilliant site and I tip my hat to @JoshuaDorkin and @BrandonTurner and all the other staff/contributors.I'm in no way a procrastinator just had lots to sort to leave me free to start.

Is it common that in a scenario such as this that some sort of pre qualification or preapproval be submitted with the offer to purchase? 

Hi-Having a heck of a time finding any sort of attorney who understands the wholesaling process.  

What sort of investor are you?

For me, if I really want to pull those numbers into Excel and play around with the inputs for hours and run all sorts of fancy monte carlo sims, etc, that's great - I can use the calculator as a guide and do that sort of manipulation myself.  

It would not make sense to do this sort of transaction if they want to sell the property to you and also pay you less than market rents.

Common practice is to make money when you buy or you made a bad deal, so if he desn't know what money he is making from the start then he doesn't have a good plan and I certainly wouldn't follow it.I know housing is tight in the Western US - WY, ID, MT, ND, SD, UT etc etc so housing will come at a premium of some sort (price or competition etc).

He filed a lawsuit against me for all sorts of ludicrous things that he says I did or did not do (i.e. trespassing, harassment, etc).