I cannot emphasize this piece enough - when talking to the Seller, I recommend listening much more than talking.I hope this helps!!! 

•I asked him what it would take to make the studio in the back an official dwelling unit and he didn’t have an answer for me, just emphasized the rental income I could get for it.

The reason I am emphasizing the first sale, it is my understanding that the herd mentality of buyers, will get kicked off with that first one. 

Do you emphasize long-term holding of property or quick-turn buying/selling?

Everything I read seems to emphasize making sure to accurately and completely estimate your costs up front to make sure you're dealing with a good investment, but so many people's estimates seem to simplify the costs to only recurring monthly and highly predicatable costs like taxes and utilities....etc. 

Emphasizing their Net operating Income which will be low. 

The work ethic and the responsibility that was emphasized in the book was very commendable.

If it's to buy something, you may want to emphasize your legitimacy and funding sources to consummate a deal.

It difficult to predict the future but so far with COVID and eviction moratoriums the majority of tenants (90%+) are still paying rent and COVID is not going to last forever,   but it does emphasize the need to have adequate reserves 6 months + for expenses and as always screen your tenants well and it should be fine.  

Most wholesaling communication emphasizes closing quickly for cash.