With notes if you get a property back it is not going to be ready for retail so having done a few flips will give you some familiarity with the product.

Tom,I have been originating loans on a lot of multi-tenant retail properties lately.  

We tell them that we aren't looking to buy retail, we show them how we come up with our offer and what we think the rehab costs will be, what we think it will sell for after rehab and how long it will take for us to sell it.

Yeah I have been doing more retail strip centers lately.

We agreed to a 45 day close with pre-approved buyers on the ONLY 3 bed 2 bath house for sale at the beginning of August.  

To me, it seems better suited to folks who are focused on retail sales, not investing, and from my preliminary exploration a lot of their training is about how to build your retail sales career (again, I haven't explored in depth yet). 

Total Monthly rents = $2,150Asking Price = $200,000Yearly taxes = $950All units are 2 bed 1 bath.Rent is slightly below market, could be raised $40-50 per unit.1960's construction, hard wood floors, brick exterior, new HVAC last year, seems to be in overall good condition (no deferred maintenance to speak of).

Saying "wholesale a lease-option" has many roads to go down and there are Ys in the road, and wholesaling is not retailing to an owner occupant.

.), and the last was a retail purchase; I have four in total and just made an offer on number five.My long term goal is to develop enough passive income from rentals to replace my income.

Recenty I've begun investing in a lower income area (row homes under $35K for three bed, two bath) with some neighborhoods better to buy in, others better to avoid like most places.