However I like to run my numbers conservatively and account for cap ex, vacancy, maintenance reserves 10/5-7/5-7% respectively.

The successful wholesalers are the ones that are direct with the seller and have done an analysis on the deal to show it can be a successful investment (always double check with your own)totally agree, I would add the don't act sketchy and present their available homes in a consistent/professional manner to buyers. 

You will spend lots of time checking the quality of their work, from TAXES, to the most mundane administrative work of Registered Agent services.

Be sure to check with your lender to confirm their specific criteria regarding the property's condition.In short, fixer-uppers can qualify for DSCR loans, but the property either needs to be producing rental income or have a plan to do so after renovations.

These qualities are far more valuable than the numbers in your bank account.7.Set clear goals.

Bigger Pockets is a great place for education and networking and is full of great content.I recommend that you check out the following resources:1.

When you tell them they will only get paid when the loan closes, they will disappear.If required, the only money you should ever send to the lender is for a credit check.

Perhaps check with a local attorney before proceeding.I realise I left some stuff out in the beginning, but the whole situation in general is just pretty wild.

They just let me know I wont be receiving rent and the reserve accounts have been depleted. 

@Jacqueline Wright  Every auction is different so the first items to check: do they allow financing if you win the auction?