@Jonathan StreufertNot quite sure what you mean by hand waving.

So we sent our tenant the 7-Day Notice to Quit.

I did quite a bit of business with one particular commercial lender, and any time I would propose a financing package for a new multifamily, he would always tell me, “I’ve never seen such detailed analyses in my 20 years of working here.

It changes county to county how landlord-friendly it is, but overall Iowa is quite landlord friendly. it does come down to how strong your lease is and how good your property management company is as well.

The grounds are kept beautifully and the outside repairs are taken care of nicely.We got quite a few calls yesterday and two people asked for applications. 

Can we do wholesaling without quitting our day jobs?  

There would be no need for refinancing.This will not defer their depreciation recapture tax but it will defer the part of the gain that is over and above their accumulated depreciation, which could be quite significant if they have experienced a lot of appreciation.

Example ... the seller is named John Smith the buyer has an attorney create the John Smith family trust with equity buyers LLC as the trustee of the trust then does a quit claim deed from John Smith to John smith family trust.

There are quite a few Meetup groups in the Bay Area that are active (I attend several and rarely see the same people at any given event).

The unit is older, built in 1975 and has quite a few small issues, est. about $1000 in repairs.