You will need the help of a QI and a CPA/Attorney to ensure you structure this one correctly. 

I currently own a commercial property In Upstate NY and a Rental property in Michigan.

No inspection contingency and a 10% earnest money deposit.

As you are analyzing these deals normally the banks would use a 5% vacancy rate and a 10% management fee.

You will also have a parking pad and/or garage, a small yard and a neighborhood block feel.

If you haven't worked with one before, be prepared to pay points and a much higher interest rate then a bank.Good luck,CB

Does a wholesaler here in Florida have to use transactional funding and a double close?

He interviews experienced investors and as you can imagine, they have many creative ideas.  

HI @Tim MallickWelcome to the site and a good place to start is the education tab above!

It appears the units are below market, however with some cosmetic repairs and perhaps some capex's I feel I could increase the rent by at minimum (based on local comps) 68%.I would offer 85% of list and estimated $20,000 in repairs/upgrades (this is probably a generous estimate - the property appears to be in good shape, basically needs a face lift).With all these figures, including the 50% rule, financing with 20% down @ 3.5%, I come out to a profit of $262 per unit and a cash-on-cash return of 9.53%.So, does this seems reasonable?