Quote from @Adam Macias: Wholesaling as it is today will be a thing of the past.It’ll truly be strange to even hear people and gurus trying to make big money off it.The more people try wholesaling but then end up not having an end buyer or cancelling contracts or trying weird things like novations, the more all of real estate will be regulated and cause requirements like licensing to be able to transact more than just your personal resident purchase.Which I don't know why hasn't happened sooner.Here's all the states (in red or yellow) requiring a license to wholesale or at least have started the process:Credit: REITipsterI think licensing and regulation is a beautiful thing that should happen if you plan to be an wholesaler and do more than one deal... which is going to be the case for anyone taking this business seriously.Or even it being regulated to need a real estate agent to do more than one deal outside of buying a personal residence.I've had plenty of failed attempts with agents in pursuit of wholesale deals and I know exactly why, it's not because the agent couldn't find me deals, it's just not practical to think there's opportunity for the numbers a wholesaler needs to make a profit on top of everyone else needing to these days.Because the only sellers who truly can sell at a deep enough discount are usually those who ran out of time and just didn't do something sooner with their situation.I know many coaches and gurus will disagree with me but there’s no regulations on youtube gurus and what they teach either.If we look at the current state of the market in hot cities, the availability of online resources to the average homeowner, how many deals can you possibly believe are available at 70% of ARV?

Although, some of the information was not required either time and some was required both times.

Many insurance policies also require re-development within two years, a near impossible timeline in a region with the coastal commission, perhaps only second to Manhattan in terms of permitting and red tape.

That being said, there won't be any down payment required since you have equity (you're guessing ~55,000 but I wasn't sure if you were meaning the property is ballpark worth ~$175,000, or more than that). 

But It requires an endorsement.

I like to think I have done ok. for me finding properties is sales - managing real estate and growing your company requires problem solving. 

This apartment required a cosmetic renovation that is going to run me around $27,000 to redo.

This was a cost-effective way to meet our requirement of providing just a stove and refrigerator (we don’t include washers or dryers), without breaking the bank further.But here’s the twist: If we were upgrading appliances for a long-term tenant with a stellar payment history, we might invest in brand-new appliances.

The higher insurance premium required a higher escrow payment which the original borrower didn’t let me know.  

Newer construction code requires better earthquake-proofing, but it's still aimed at preventing a building collapse rather than holding the value of the structure.About 15 years ago there was all the talk about "100 year homes" but I haven't seen much come of that.