You are not even scooping your initial investment so your cash on cash return is negative.

Even if you take the $250,000 the realtor mentioned it would sell for as your basis that would mean you're looking at an $80k gain: 380,000 - (250,000 + 50,000 improvements) = 80,000Since you want to buy a nicer home for your mom, a 1031 exchange may not be applicable if the new property is intended for personal use, as 1031 exchanges are for investment or business properties only.

Most lenders will let you use up to 70% or sometimes even less.

If you already have low respect due to a pre-determined mindset, it's hard to approach the community with an even or reasonable keel.

Even if it was 8 hours a week that is pretty crazy.

There are never full photos of the mechanicals and basement and roof line so you will never have even a bare inkling of what the potential repairs will be.

Wholesaling is risky, because there are a ton of bad players out there, and so most brokerages don't even allow it because there is so much risk, and the principle broker is risking their livelyhood. 

It can totally be done, even in this market.

There are often weekends or holidays that finding even a basic motel for the night in some areas is nearly impossible (especially if you have pets!) 

Once you have a deal they will guide you through the process and even help you attain the funding with out coming out of pocket or using your personal credit.