Before I get into my response let me correct my earlier post.

Correct me if I'm wrong but "getting a property under contract" is the exact same as the process one goes through with a broker but with a great price, right?

As a wholesaler you have to be very careful and price your deals correctly.

Also, if you can't be there all the time and don't know your subs whose to say if they are screwing around, doing things correctly, etc....

Correctly, it calculates all the leverage one has against their real estate investments w/out accounting for cash-flow, equity, etc.

Correct?

But - you're basic outline is correct and hasn't changed much here lately.

Title corrected . . .

@Jeff Greenberg & @Joel Owens it's not uncommon in MF deals to go back and renegotiate the price/terms if you find a bunch of deferred maintenance, cap ex, etc. during the inspections/due diligence phase, correct?

And then the newer electronic systems might have trouble-shooting indicator lights that help to diagnose the problem.Understanding how it works and some simple trouble-shooting techniques will help you determine whether the outage will be just a few hours or a few days; if not short you would then work with the tenant to see whether they need some electric space heaters or not (some already have their own).