They never have to deal with entitled high-maintenance tenants who've only ever lived with mom and dad; tracking down late rent from the same person over and over; crossing town for showings only for the person to flake; going through the work of calling all references for multiple co-tenants only for the accepted applicants to back out 30 minutes before your holding deposit meeting--after you've crossed town to meet them and gone to Kinko's to print all the documents; tenants who give you stink eye while you're in their apartment to fix a light switch (only 2 hours after they called to report needing a repair even though you live across town), etc. etc. etc.  

This can often lead to more flexibility and better returns, especially if financing is involved in real estate transactions.

There are no agents involved so no commissions paid out.

I am highly highly intrigued on getting involved with bigger pockets and in the real estate community.

I want to build an empire quickly which involves buying properties that are larger and nicer and bring in good cash flow right away.

I strongly advise you consider the risks before getting involved. 

As an investor, I don't need a license because all of the transactions I'm involved with are my own and, as you know, you can do what you want with your own properties.Great that you're making an effort to learn the rules before getting into trouble.

Be mindful of when you get the same property offered by multiple wholesalers.

I was informed by a neighbor that as recently as a couple years ago, the one house was basically a brothel, it's been cleaned up once the neighbors got the police involved but I imagine the tenants aren't the best.   

Hello Michael Davila I agree with Harjeet Bhatti ideally you would want around a 70% loan to value for that one house, if it is the only house in your portfolio.If you have multiple the 70% rule I would expand to the entire portfolio.I am currently in the same position of trying to leverage equity in my first home for another deal.Let me know if you need help with anything and happy hunting!