It’s a huge renting point and can help you get bigger rents.

In your scenario, claiming that $117k depreciation deduction could lower your taxable income from $700k to $583k, which is a huge benefit in the short term.As for the RE pro status, if one of you becomes a full-time real estate professional, you can potentially offset active income (like W2) with passive losses from real estate. 

Wholesalers drag out the process if you go with a bad one. they are not buying the house. they only want your signature.

PM's will have plenty of contractors to help streamline the process for you and limit your liability when dealing with contractors. 

I was reading last night and thought:Why should I spend 2-3 years growing my single family home portfolio when I can just buy multifamilies without having to pay the huge down payment myself, instead using the private lender money?

It’s just part of the process.

Even if you are not cash flowing on day one, that's okay (in my opinion), you're not paying the full mortgage on your own, which in of itself is a huge win and you learn other tangible real estate investing skills along the way by simply owning. 

When i read about how their deal was really messed up with most investor probably going to take huge loss's its not shocking.. you have to stay right on top of these and have the manpower to do it.

Because the payment is coming from the tenant, and not the surety bond provider, claims are always processed without a fight.If you are interested in considering a surety bond program, I recommend Obligo.

Always invest in your backyard @Dina Mazur - you have a huge home-field advantage I would not give up.