I would've gladly held them if they performed for me with the cash flow, but clearly that was not the case.So, to summarize, buying in a market that you do not know well, where you will likely pay retail, where you will have to pay people to do everything for you, where you will be 100% dependant upon them to make your investment work and have your best interests at heart, and where you will essentially be powerless to quickly fix situations that go escew is NOT a sound investment strategy ... if I could not make it work after 10 years of investment experience to start followed by 5 more years of trying to make it work, then a newbie sure as heck should not even think about attempting it IMO.

Let me see if I can summarize :)1.

You'll BARELY get 1% gross, even at wholesale.So to summarize point 1: be conservative in your post-rehab bank appraisal estimation.Point 2: There's no margin for error on the rehab.

I believe it summarizes all the areas where programs are eligible and what the programs are:www.memphisfightsblight.com/

I find it hilarious that everyone is assuming this lease is appropriate when they haven't even seen it, or even had it's contents summarized.  

There is only one person on BP that I know who has actually dealt extensively with this exact issue and has even adjudicated it as a Harvard educated lawyer, his name is @Jonathan Twombly I urge you to read his expert answers on this exact subject: http://www.biggerpockets.com/forums/12/topics/140550-best-way-to-protect-myself http://www.biggerpockets.com/forums/12/topics/140457-forming-your-llc I will summarize a few of his basic points against the unhelpful and inaccurate advice so far offered on this thread although I urge you to read his very intelligent responses yourself. 1.  

Still others need to have their hands involved in EVERY aspect of the business, while others don't feel comfortable with technology.To summarize,  a website is a much needed aspect today.

I will try to summarize.  

Sure there are, and some markets are more favorable than others, but there are a lot fewer, all the while a many more wholesalers of varying abilities and levels of commitment have entered the field - increasing competition.Now that I've said my piece, I'll sit back and await the you're-too-negative reply posts.Great post and definitely summarized from someone with experience.

By "sales leads" I'm assuming you are referring to seller leads, meaning trying to find good properties to buy.There is a whole method to this online madness.I summarized a lot of what you need to do in another post.https://www.biggerpockets.com/forums/87/topics/240...