This plunged the world into the greatest recession most of us had ever seen and caused more than four million completed foreclosures.There’s no denying the incredible role appreciation has played in investors’ lives, but there’s also no denying the risk involved in relying on appreciation to make a profit.

The wholesaler isn't a competent contractor or even a competent investor themselves 99% of the time, so you have to decide who you want to rely upon for estimates.

The entire premise of this plan relies on the appraised value of a duplex, and how much $150k gets you in your market.

adults=1&am...

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

I would never loan my money the way you see it done with the Brokers.. they rely on 3 party appraisals and credit reports they Never or basically never even meet their client to eye ball them..

What if you decide you can beat your flip returns in something more passive that is maybe lower risk because you're splitting profits but your friend now relies on the income from the flips as somewhat steady income?

Relying totally on your GC for everything can leave one in a tough position.

Kids are adventuring and walking too and from school unattended, people park where they need to, people use common sense to make decisions more than relying solely on the rules, etc. 

You said you went through a turnkey place, but did you actually inspect them yourself or did you rely on the inspector they picked?