This property consists of 4 Duplexes on a 15,000sf lot and was built in 1950. All 8 units are vacant with 1,496sf living area each Duplex.
All units have recently been vandalized and in need of repairs. 1 unit needs full rehab due to a fire last year. The other units need wiring, paint, kitchen & bath updates, carpet & tiles, some windows, and brickwork done around the windows.
This property was listed by a wholesaler, not the homeowner. It is not allowed (and highly unethical, on this website or anywhere else) to contact that homeowner directly to try and undercut the wholesaler.
For example, let's say that a homeowner wants to sell his or her house. They sign a contract giving a wholesaler 30 days to buy it at $60K. That wholesaler then lists the property for $65K.
What the warning is saying is that it is NOT okay to call up that homeowner and say "hey, I'll offer you 63K and we will go around the wholesaler" (so the owner makes an extra 3K and the buyer saves 2K). The seller would receive more and the buyer would pay less, however, the wholesaler would be wronged because they did all the work and were not compensated for it.