I both sell and purchase properties via the lease option method and one of my protections as the lease option buyer is knowing that the seller / owner cannot sell or refinance the house out from under me as long as I have that recorded option against the property effectively creating a lien. 

Also, 10 year old renovations will most likely not achieve market rents, which means that any buyer will need to invest in renovating the units)Is the basement unit a "legal" basement unit?

Getting those loan docs correct and helping the buyer understand - any mistake can set an escrow officer back.Thanks again. 

Can someone explain to me a buyers market vs. a sellers market in relationship to a crash?

As a wholesaler you are not representing the buyer or the seller. 

I wasn't the best in best and final, but the broker told me the seller opted to go for a portfolio buyer even though the individual offers they had summed to more than the portfolio offer.In many ways this smells to me the same way it did in 2000 during the dotcom boom and again in 2005 with liars loans.  

so buyer beware, especially OOS investors. 

I'm trying to to find the best deals I can, but it is a crazy buyers market.

But 50% of the building must be owner occupied for a buyer to get a FHA loan. 

More equity and renting seem to be the best tactics when real estate starts to drop again soon when buyers turn to renters due to the economy and rising interest rates...