Wholesale-to-landlord MAO works backward from the rent the property supports. Start from net operating income and the landlord max purchase price, then subtract rehab and your assignment fee so the finished rental can still cash-flow.
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| Monthly market rent | $1,850 |
|---|---|
| Landlord max purchase price | $150,000 |
| Rehab budget | - $22,000 |
| Assignment fee target | - $8,000 |
Seller MAO before title, lien, or rent-readiness reserve: $120,000.
A buy-and-hold buyer needs the rent, expenses, debt service, reserves, and refinance plan to work after repairs. A low price alone is not enough. If the rent does not support the landlord's target return, the deal will not survive underwriting.
Use realistic rent, vacancy, repairs, and operating expenses, then run the rental-property or cash-flow calculator. Your assignment fee belongs inside a number the landlord can defend, not on top of a deal that already breaks even.
Wholesale-to-landlord MAO is the highest seller offer that still lets a rental buyer hit their cash-flow or refinance target after rehab, operating reserves, financing, and your assignment fee.
A flipper starts from resale ARV and profit. A landlord starts from rent, net operating income, cash flow, and refinance value. The same property can support a different offer depending on the buyer's exit.
Use current market rent for similar finished rentals, then subtract vacancy, management, repairs, taxes, insurance, and reserves. Do not use best-case rent to justify a higher seller offer.