The benefit is significantly less red tape compared to working with your traditional local banks who also do new construction financing.

Detroit's got the advantage with the Red Wings since the Barons left in 1978, so I guess there's that.

Negative cash flow with high HOA fees is a red flag.

Quote from @Adam Macias: Wholesaling as it is today will be a thing of the past.It’ll truly be strange to even hear people and gurus trying to make big money off it.The more people try wholesaling but then end up not having an end buyer or cancelling contracts or trying weird things like novations, the more all of real estate will be regulated and cause requirements like licensing to be able to transact more than just your personal resident purchase.Which I don't know why hasn't happened sooner.Here's all the states (in red or yellow) requiring a license to wholesale or at least have started the process:Credit: REITipsterI think licensing and regulation is a beautiful thing that should happen if you plan to be an wholesaler and do more than one deal... which is going to be the case for anyone taking this business seriously.Or even it being regulated to need a real estate agent to do more than one deal outside of buying a personal residence.I've had plenty of failed attempts with agents in pursuit of wholesale deals and I know exactly why, it's not because the agent couldn't find me deals, it's just not practical to think there's opportunity for the numbers a wholesaler needs to make a profit on top of everyone else needing to these days.Because the only sellers who truly can sell at a deep enough discount are usually those who ran out of time and just didn't do something sooner with their situation.I know many coaches and gurus will disagree with me but there’s no regulations on youtube gurus and what they teach either.If we look at the current state of the market in hot cities, the availability of online resources to the average homeowner, how many deals can you possibly believe are available at 70% of ARV?

The licensed plumbers do not get permits for water heaters, I have never heard of one being red tagged solely for not having a permit so I do not get permits (and know no one that does) for swapping a water heater.  

It will happen in red AND blue states.Why?

I would be so deep in the red.

In my leases I put clearly that if a tenant flags a request as emergency and it is determined to be their fault or not an emergency they are responsible for the cost.

In fact, on numerous occasions I've raised red flags concerning their representations, financial reporting and general investment decisions that were all verifiable through public information and should have given most investors pause before investing.

I've used Propstream, Red X and Real Estate skip trace with varying levels of information accuracy.