The owner has an asking price, however, is willing to accept half of the asking price with the option of writing up a land contract to develop monthly installments for the remaining amount.

Perhaps it is for the best though, this way I think there will be less risk of me entering into a deal without having done my proper home work. 

His own company,  no overhead,  does his own installs, works on referral only.  

Those banks selling off generally have "buy back" provisions built into the loans in case they were not underwritten properly and a default occurs.With commercial lenders they look at liquidity, net worth, annual income, and track record.You can overcome track record with high net worth.

We specifically need help on understanding and  getting proper asset protection lined up. 

Offer Making- Properly structuring offers and submitting them Sales/Negotiations- The best deals are created through effective negotiationI hope this helps you Jay. 

However, at your experience level, you may want to team up with an experienced wholesaler in your area to help you work your leads when you get them so that you handle them properly. 

With the right plan and a proper team.

I might try the 1st year without property management just to understand the nature of the work so I can properly manage my property managers in the future.Property: built in 20001836 sq ft., 2 floor, 3br/2.5baupdated/modern interior paint and white cabinets, likely tied for best appearance in my modest neighborhooddark espresso engineered wood floors, glued down - (bad for a rental?)

If there aren't two ways out of all of the bedrooms (common with basement rooms), then you might have to install an egress window, or quit calling a particular room a bedroom.You mentioned the fireplaces; why aren't they safe?