. - In the extremely unlikely event that you get a property under contract, your assignment fee, in many locations, and probably on average, will be less than the commission a licensed broker would have received for selling the property. - You will be at risk of breaking the law, as many states are creating laws that effectively ban wholesaling, and while wholesaling gurus claim that this is not the case, they are either lying or deluded.

You would have to self-manage though, as paying a property manager will eat up most of your profits.

At over 4000 sq ft, I'm surprised you won't be able to list for a much higher number to net a decent profit, but without knowing more specifics on the house and location, I am speculating here. 

@Hank Bank where are you located?

Hello,I bought a duplex in Pensacola $75,000 under appraised value, in an amazing location.

The clients we work with who have found success letting us help them find highest and best use of properties, then we manage them for a year, and then pull out 60-70% of their money, and do it again - rather than waiting several years for a home run hit. 

The key is making sure you have the right team in place—outside of market research, finding a trustworthy property management company is one of the most important factors in making long-distance investing successful.

If you are going to start BRRRRing in Philly assemble a team of real estate professionals who can help you with market analysis, location, title and financing.

You can also write off expenses such as property management, insurance, repairs, etc.

I have 3 homes managed by a property manager.