I like @Ryan Harthan's suggestions, accurate description, while avoiding any misconception of the term "wholesaler".

I believe this is the biggest and most dangerous misconception presented to new wholesalers.

@Eric Guiltinan @Austin Styer There is a LOT of misconceptions to this and I wanted to give some quick pointers on how to be successful when seeking cash out here in Texas.1.

In general, there is a substantial misconception of “home ownership”.

Another thing is that FHA inspections could be a little more difficult to pass, although with most modern homes, that too could be a sellers misconception.

It is a common misconception that true self-directed IRA's are illegal.

Problem with experience is that if your have misconceptions and continue bad habbits, you'll just have bad experiences, attitudes and opinions unless corrected.One such aspect for example is agency law.

As long as we are on the cash flow subject we can look at some other common BP misconceptions about sfr rentals.

I discuss this in this post:  https://www.biggerpockets.com/blogs/2810/45144-the-biggest-misconception-about-the-solo-401k-plan-qualification- If you are currently with an employer, most likely you wouldn't be able to roll over your 401k into the Solo 401k/IRA plan until you leave the job.

Even honest subject to buyers err to the detriment of the seller because they typically have massive misconceptions on what they are engaging in.