@Stephanie Dobbs  I lost a house that was supposed to be a flip, but then the real estate bubble burst. 

I was laid off the day that we were supposed to close escrow.Now, about the deal. 4 unit building listed for $1,250,000 in a great part of San Diego, 100% rented (this is good and bad).

@Joey Noel not too good to be true - the way it's supposed to be.

there are some old houses that are built in the 50s that I suppose would be good flips but only direct marketing would work. 

Second, they had to re-schedule the in-person interview that was supposed to be this morning, to another time because they had to meet with a buyer.They plan on being the biggest wholesaler in my area and I love the ambition, but I just have a weird feeling about it...

But I suppose I do add a higher repairs and capex number (Repairs 10%, Capex reserve 5%), AND when I buy, I plug an additional "fudge" amount into up-front repairs because I know I've missed something that isn't visible on inspection.

If the deal really is that good you shouldn't have to do that I would think.I've worked with a total of 3 lenders, one of them we were going to do a refi but we decided to sell half way so that didn't go through, but I wanted to say that be cautious if the lender doesn't give you a chance to say what rate you want/you think you can qualify for because they make extra money by giving you a higher rate and pocketing the extra that was supposed to go back to you. 

Has its positives and negatives I suppose.  

He supposedly has done several hundred flips and owns over 50 rental units.

How are you suppose to get work done that way?