I have stated before that this could be a trap for the wholesaler, whom, if licensed may be taking on a responsibility to the seller that is at a minimum in conflict with their object of paying a below market price.  

It can also be a nightmare - especially when you take a chance looking only at the expected profit verse your what your overall investment objectives are and how they match up.The topic of DUE DILLIGENCE arises and I always did some research which I considered was satisfactory. 

However, my primary objective with multi family is cash on cash return.  

I judge each deal subjectively and objectively.

Although it is obvious that some parts are embellished, it accomplishes its objectives for the reader.

Then I would get the basic docs where are: - P&L for ideally last 24 - 36 months (income statement, operating statement..I've seen it called multiple things)- current rent roll Once you that info you can project if you should pursue it or not based on if it meets your objectives. 

There are so many suburbs and neighborhoods to choose from that provide a solid investment and suit different objectives.

Make a bulletpoint shortlist of your near term and longer term objectives and take it when you meet with the accountant and attorney.  

My wife and I own both a residential and a commercial firm based in Georgia where I am the Principal Broker.Using my background in investment advisory, I do assist investors with crafting a portfolio based on risks, objectives, and budget which models projected cash flows and debt structure to help plan for retirement.

The terms and conditions of the Contract shall be subject to the approval of Purchaser and Seller, provided however that neither Purchaser nor Seller shall have any right to object to the inclusion in the Contract of any term contained in this Letter; and provided further that neither Purchaser nor Seller shall have any right to insist that any term be included in the Contract that contradicts any term contained in this Letter.