Some of those properties in bad areas look good on paper, but that's the only place they'll look good on.

In metro Detroit, the numbers look great on paper - that's it :)  Why - because paper shows a moment in time snap shot, which is Pro Forma; it does not take into account longevity and stability.  

Having a degree as a piece of paper never hurts.

The tenants don't care about the septic as they will use non-septic safe toilet paper (the really cheap stuff), flush just about anything down the toilets (even though my lease spells out what can only be flushed).

I think that is the path we are going to follow along with the double close..now when setting up to wholesale, what all paper work do i need to acquire..ex. tax i.d, llc..etc

Take away your charges for painting and cleaning and you should be good.Have everything done by a professional and get paper invoices.

When signing the papers, I go over that clause very carefully with them. 

Pay a little to get more in rent.Be sure the lease addresses how common area damage, common expenses (like toilet paper, dish soap, etc.), and common utilities will be covered.Good luck!

@JD Martin recently recommended Lowes Project Source Pro Flush toilets, made with all-Fluidmaster parts.

I got one of those letters too for my 2019 partnership return, I mailed timely but due to covid the paper return wasn't processed timely and the computer assumed it was filed late.