Then you need to add in pain in the *** factor, which for an older expensive property while you live abroad is quite high.

Partnering with a wholesaler sounds fine, but check the real estate licensing laws in your state before bringing a buyer for a commission.You might consider getting your real estate agent's license and legitimately earn what your skills, drive, and experience truly command. exactly wholesaling or bird dogging is not a life time or long time occupation  RE sales can be lifetime and if your any good at it at about year 10 you should be getting all your sales from referrals and such.

But I told him to hang tight, since Tesla’s buzz alone was already driving up interest.

I was shown about a handful of their holdings in the Houston, Memphis, and Little Rock markets, but the cash flow and CoC returns were less than $100 per month and 2-4% after factoring in additional expenses like 7% vacancy and 10% maintenance per month to go along with 20% down and conventional mortgage.

It's near Lincoln High school and about a 2-minute drive from 18th and vine. 

The property management LLC's are the latest gimmick these alarmists use to drive up their revenues at their clients expense.

The next thing I would do is drive a few prospective areas that I might want to invest in later.

The loan amount will typically be determined by appraisal (LTV - loan to value ratio) - but your qualification will also be based on other metrics like you mentioned - DSCR ratio, FICO and some other factors. 

The local law says that the non owner occupied property being rented will need a designated host that may or may not be the owner however that other line item in the code that stipulates that the host must be available within 30 min driving while the unit is occupied becomes the dealbreaker.

If the house is listed as-is, there won’t be much room for negotiation (ie. seller concessions/credits), but you can offer a price that factors in the rehab components.