As for finding a four-plex that makes since on the MLS, chances are it's not going to happen.

If it's not grandfathered in, what are the chances of a cash out refinance?

Id say offer the realtor you are working with on the other 2 transactions like $500.....and there is probably a descent chance they will turn it down and do it for free as a courtesy since they are doing 2 other transactions for you.

To be honest $65/year is nothing unless there is a chance it will go up for an improvement. 

All the facts I see shows me there is a chance that the owner could be in distress.I am trying to map out a plan of actions as this looks like a diamond in the rough for a beginner like myself but my questions:   Can I wholesale receivership properties? 

Run the numbers on properties that you find available so you can make offers that you fell have a chance of having enough margin to make it worthwhile.Good luck and I hope this helps.Ed

Assuming that’s a performing $35K note you have 80% chance it will pay off early.

I credit her for taking the chance to low ball the list price for some guy she never met over a text.

She goes on to say, "But if you buy for cashflow, not equity growth,then you have a MUCh better chance of SURVIVING any upcoming downturn."

If you do that there is a good chance they will all be grouped together by a good attorney.