@David M.I challenge you to do a little more research my friend haha it’s NOT IMPOSSIBLE to wholesale on-market properties.

A landlord is best served to engage tenants in negotiations, or someone who can do that, or to sell, that's our reality on the ground.  

A little bit about us:I am an investment funds attorney, and as such I have a lot of experience reviewing and understanding investment materials (PPMs, LPAs, etc.) from a legal perspective, but this will be my first engagement in the business side of investing and my first time evaluating deals for myself and my family.

Real estate agents can help with specific criteria, but know you'll need to overcome some challenges and put in a little more work.

Real estate is hard work, and if you own rentals, your tenants will challenge you as much as most customers at a 9-to-5 would.

Challenges?

Assuming you would like to go with a conventional (maybe a FHA 203k would be a good option here), you will need to engage with an attorney and with a lender.

Here's the challenge:  The owner (nearing his 80's) doesn't want all the cash now (I know - THIS isn't the problem). 

I would agree to sell and deploy the equity on a place with less severe rehab challenges.

Challenges?