Your problem is probably your method of wholesaling. 

Yes, you’re correct.

Everything you posted is correct except your definition of “profit” unless you only paid $140k.

If you want to scale using the BRRRR method I could send you a list of properties in terrible Philadelphia neighborhoods where you could easily complete the BRRRR and yes, you could theoretically "scale".

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

As long as your primary residence on your drivers license is updated correctly and you fill out this new residence as primary application, it may be no problem.

If there was a clear lease violation sufficiently serious and they were given written warnings to correct the issue and did not then you could probably evict.

How do you know if the electrical was done correctly?

So, if it is more of the 2nd on there...I'm sure that some people might comment to "Do This" or "Do That"...but how do you know if any of them are correct?  

One just uses the tried and true wholesaling methods and each geographical area will have its unique ways of doing this.With a lot of land deals starting with tax sales. this is common in CA AZ etc etc. currently I am funding deals in WA ID MT CO AZ TX FLA and then some other states.