I think it's waste of time here no one replying.

It's pretty much having a cap rate of at least 37%  and then doing the ladder effect with all the money made off the rentals and put them in more rentals.

A good partnership should have a multiplying effect due to everyone bringing unique skills and strengths to the table.

So as of right now my biggest issue is finding an established FHA lender who understands how the loan works and is effective in securing them. 

You are effectively "hacking" your biggest expense--housing--by having tenants pay for it.  

We lived in a rural area at the time so there wast not a whole lot of business but we did make a decent living with it.

Short sales (underwater property) are not wholesaling friendly, and a wholesaler is likely to just screw around the seller, wasting 3-4 months. 

Be aware of things like condo rules regarding investor owned versus owner occupied units as this could effect your or your end buyers' financing possibilities, special assessments or association fees that could effect your carrying costs, condo rules regarding renovations and what owners are allowed to do or restrictions on noise or work hours.

(nor a first for that matter) Sometimes I feel like I am wasting my time looking at some of these tapes. 

One or two bad months could possibly put you in a bad position and start effecting your schooling.