It seems like you have a good mentor. It sounds like your strategy is flipping, so I will add that you make your money when you buy. If you can buy under market value and have a good strategy to add value then you are reducing your risk. I think to many people buy at or above market value and count on appreciation to help them when they sell.

It’s a red flag that they are not allowing a building inspection. I wouldn’t go ahead with a deal if the seller did that.

I would get a good real estate agent who has sold properties to those sort of buyers in the past.

I am always logic and never heart. I own 6 single families in Australia in 3 different states (where I don’t live). I create spreadsheets of data and let the numbers talk to me. This narrows down area then I start talking to property managers to learn what rents well and for how much. I then get the property managers to walk the properties for me and report back on what they could comfortably rent it for. I then use the numbers to negotiate. I have never seen my properties with my own eyes and my friends think I am crazy. I tell them my eyes know nothing but the data knows a lot.