How much will be due in repairs over the next five years? 

For a BRRR cash-out refi, lenders typically go by the ARV (After Repair Value), not just purchase + repair costs.

The click on / locking type seems like what most investors use, but repairs seem difficult without having to re-do a large area. 

My best advice for a new wholesaler is to learn your repair costs.

The more you know about what is involved in renovations and repairs, the better suited you will be to take on any project.But, real estate is capital intensive.  

Repairs after tenants move out also are significantly higher. 

Many new investors get excited by high cash on cash returns in the midwest and buy rough properties in D areas and they get smoked by property managers, tenants, vacancy, capital expenses, repairs, turnover costs, etc. 

@Rochelle GerberHere are some of the downsides of putting real estate into an IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds, and you must pay others to do repairs and manage the property.

Rents were well below market and substantial repairs were needed.

@Grace Hartman Most of the time sellers offer credits instead of fixing repairs.