So if you buy a 5 bedroom house and rent the spare 4 bedrooms = you can still sell tax-free under the 121 (you just pay back depreciation) If you buy a duplex and rent 1/2 and live in 1/2.

In any case, successful wholesaling REQUIRES the knowledge, experience, and ability to accurately estimate repair and rehab costs and time.  

& how you become financially free is by letting whoever your renting to (I'm guessing that was a step also?)

(The power company in MN will offer you a chance to buy the warranty after the furnace/ac is broken and come back the next day to fix for free.)

This gets you in the game with minimal upfront costs.Covering the Smaller Costs (Inspections, Appraisals, Earnest Money, etc.)Even when using other people’s money, you’ll need some cash for earnest money deposits, inspections, and carrying costs.

Determine cost to renovate. 

Google the term UBIT.Tom Wheelwright has a chapter on why you don't want to do this in his book Tax Free Wealth.

It frees up your time.  

Feel free to reach out if you need a brain to pick.

Just a heads up this will not be tax free, it will be a pro-rated exclusion.