have 8 months under my belt so far and have endured as much or more "setbacks" as I've ever seen in all my years of land-lording (lots of appliance, A/C, idiot guests that demand refunds due to crumbs in the toaster [no joke], and the dreaded HOA Special Assessment.

This demand comes from primarily high priced markets were the cost of entry is quite a bit higher than the quote un quote turnkey markets of Central US and deep south and Rust belt cities.. that's were the inventory is that can be bought.. there is more houses than there are owner occ's to fill them.. so this creates inventory for flippers for rental purposes.. take it another step along the food chain an these companies realized for customer care and a full service package they needed property management in house and tight controls on rehabs..  

My plan is to manage those vacation rentals at a 30% cut each, and racking enough luxurious properties under my belt to add another stream of passive income. 

Rust belt areas were there are tons of vacant houses  tough neighorhoods and burnt out landlords are the better areas for wholesalers the price points tend to be low and agents don't want to fool with them.I would not go into this business undercapitalized .. other wise just drive around a bit and knock on doors throw a few bandit signs up and see if you get lucky

Hello @Wen Wang I am a new investor with only 1 unit under my belt but it looks like you may want to double check your property taxes.

My combined net commission from both of those first sales barely covered my startup costs, but I had some transactions under my belt and had learned a massive amount in under a year. 

I'm pretty new to the game as well but I do have a couple deals under my belt.

I was still nervous for the first purchase but now I have that under my belt and ready to expand.

I have 2 masters degrees, I'm good with numbers, and have about 50 hours of BP podcasts under my belt. 

I am down in the panhandle , the warm banana belt of the state (raining like crazy now) but I like that, like our large state, you have Alaska sized goals..