The Realtor would help to negotiate lease terms, option fee, & hopefully stick around to assist with the sale afterward once the "tenant buyer" exercises the option.  

You should be familiar with Fair Housing, Landlord Tenant Laws, and how to effectively perform a lease-walk (i.e. showing).

I have a couple of questions on the topic of non-performing notes.  

I do agree with you in that more times than often the government's performance isn't just when it comes to landlord - tenant disputes. 

Fore example, do any of you maintain income/cashflow statements for the properties, or do any sort of financial performance analysis after it is purchased?

I showed them the property tonight so I haven't performed checks.

Just put in a general "Due Diligence" clause that gives you the right to inspect and perform due diligence for a period of X days, and allows you to back out if you're not satisfied with the results of your due diligence for any reason.Are you planning to tell the seller that you're wholesaling?  

I wold by the front end payments on some performing notes.  

As a responsibly armed american, I can say without a doubt in my mind that if we don't exercise our rights we will lose them.

I have commercial clients that buy different types from value add to fully performing.Even fully performing there could be other value like it comes with a commercial parcel for putting a strip center on or the occupancy rents per sq ft are half of going market.You can do well with commercial though it takes more cash.