this is one place that the GURU moniker is not warrented. like most gurus get harpooned here on BP  LOL.And the major one is HOW TO CLOSE how to ASK for the ORDER..

I suppose it would be fairly similar to major renovation of a multifamily - the building I'm looking at would be 6-7 units downstairs is completely plumbed, upstairs needs to be plumbed.

Nothing major (sheet rock was a little off, insulation he was using was thinner than it should've been, etc.)

Both my husband and I work full time and we have 2 small children, so we are not looking for a major rehab, and would rather pay a little more for a mostly turnkey property.

The vast majority of HML's are small or brokers and not really registered anywhere. 

Owner goes there once a month to do major jobs that need repairs. 

As for the laws that are changing regarding wholesaling, that was one of the major reasons that I decided to pursue my real estate license.

Have you thought going to county records to find out if the houses in the area you want  have major home violations ?

It's then possible to do what others above suggested - doing the contract site unseen with major "look-see" contingencies that allow me to walk away.

In general, by the time non-investors like your BF think a neighborhood is a "good one to buy into", the major opportunity is already gone.I can't really speak to the particulars of your deal and the projected rents.