When a 24yo comes on here and everyone directs them to find ways to work less, I can't help but think we're often giving ineffective and possibly dangerous advice. 

What are the dangers for the broker by allowing me to do so.  

They attract children and are potentially dangerous.

It definitely Challenges baby boomer golden calf concepts, and I agree with many of the premisesHowever, it is a dangerous book, especially for young investors, because most of us were not born rich, and it creates the wrong mindset toward workPeavey

I have a background in Interior Design that did not become my profession but taught me just enough to be dangerous as they say. :-) Phil has been in the construction industry his whole life, primarily single family homes and has recently transitioned into multi-unit residential developments.

Anything that constitutes a major inconvenience to the tenant, such that a reasonable court would find one negligent for not addressing quickly, constitutes an urgent maintenance need.Example of the former: leaking water, gas, exposed live electrical wires, smoking in electrical panel, dangerous leaning tree, etc.Example of the latter: poor heat performance of heating system; clogged gutters overflowing causing basement dampness; etc. 

Given that most Heloc's are interest only for the first 5-10 years if you are in danger of defaulting then you should not be flipping in the first place.

The danger is when you found a property but do not have it tied up with a purchase agreement.

Total profit: $565K, based on an out-of-pocket of $274KI’m well aware of the dangers of doing a leading project like this, before something else similar has confirmed the viability.

Lots of words...no substance...Let's make this easy...Point me to ONE legal case where a wholesaler was penalized specifically for buying a property for cash and turning around and reselling it at a higher price to another investor (without committing any other violations, like fraud or brokering without a license).If you can't provide even a single example, I think it's safe to say -- STATISTICALLY, not just my opinion -- that this doesn't need to be a serious concern for wholesalers.Until then, it's just opinion without any substantiation...