After after the renovation of the foreclosure (and a new school walking distances from the house) and getting the quick sale purchase up to date we got instant equity, not to mention the rising prices of homes in the area.

How can i use the 1 year advance rent payments that create instant cash to my advantage?

I had about 50k of instant equity, and am happy to say that it has almost doubled in value in the five years since I bought it.

I always told new agents comign to work for me you need to save up 1 years of livings expenses... it will take you that long to get your income coming in a consistent way.. or you need to keep your job and do this part time until you grow into it.those that quite thinking instant success in what is a VERY VERY tough business usually went broke and were out of the game in a matter of months.Think about it like your starting any other kind of small business.. you need capital in the bank you need capital to run the business and you need capital to live on while you are priming the pump.You also need exceptional sales skills and should spend money learning how to sell and close.you need to understand this is 24/7 ... if your going to beat your competition to the deals.And remember there are simply WAY more wholesalers and wanna bee wholesalers than there are deals in MOST markets.. 

All they wanted were instant gratifications that doesn't involve any work. we the investors today will face the same challenge of teaching our kids about investing and they only have one parent not the rich dad and poor dad .

If you need instant gratification then you will probably give up.

Also... do you have to have 20% cash down if you're buying a house at a great deal with already more than 20% instant equity in the place, based on buying price and market value?

The difference between your offer and the FMV is your instant gain.

If the payment is $150, we calculate it at $150.If the student loan debt is deferred or in forbearance, we have to use a completely idiotic calculation that will instantly nuke your DTI basically no matter what.

Once you approach the right house, I'm sure, you can work your persuasive magic face-to-face and do an instant assessment of the home right there.