Therefore, you will almost have to cater to the wealthy investor because they can afford to pay those prices 

If they can't add value above what you can sell it for without them, then they aren't worth the extra expense.Something I've noticed over the years, wealthy people who made their wealth are often very savvy which is how they got wealthy. 

Thanks BPHey mate,Rent and invest.Use every penny to buy, fix and flip and keep doing so until you have enough in the kitty to buy one, fix and hold.I'm still renting and will continue renting until less than 10% of net wealth is what it will cost me to buy my dream condo.I'm around $20m away from that heheMuch success

I look at that as a way to build my wealth.  I

I feel like I will be wealthy one day, but it might take 30 years.

Guy A has Real wealth, compared to the "Fake" wealth of Guy B, wealth that actually decreases his ability to purchase assets, compared with cash equivalents.The point is that it seems to me that the guy that is unable to accumulate accessible wealth is at a huge disadvantage in this business to the point where much of his net worth is rendered useless in his pursuit of early financial freedom. 

It's not easy, and  poverty scares the crap out of super wealthy investors!   

Yes, you can spend money on extensive renovations if you don't want to realize that income, or some version of that, and it may be advantageous to some very wealthy people with multiple healthy income streams and properties, but you should be extremely suspicious of that.

I know I will not become independently wealthy from real estate next month.

Becoming a real estate is a great way to learn the culture of that side of real estate - what you won't learn at Realtor School is how to invest - creative financing and making money.What you will learn is how to keep from getting sued - how to use their forms and making full disclosures.Learn the business from their prospective - but keep in mind (before you become brained washed) that your real goal is to become a successful investor.So - follow their rules - but start to study real estate investing - get a mentor - go to auctions, tax sales - foreclosures - make offers on expired listings.So to make your broker happy -- list a few properties and sell some also.Apply for a credit line, check protection and set up some joint ventures with friends and relatives.You WON'T make that much as an agent - but you'll become wealthy if you learn how to CONTROL and ROLL real estate - make sure you learn advanced creative real estate formulas and use those principals often.Good luck with your release from incarceration of employment.