That implies a 400bp "absorption" of the interest rates that didn't impact the cap rate in the last cycle.

Everything you just mentioned implies distress of some sort or another; in addition, absentee owners (rental properties, etc) are probably more likely to work with you on the numbers you need as a wholesaler.

Anthony, Real Estate Trainers used to offer classes

It opens up obvious potential for conflict of interests, breaches of implied fiduciary responsibilities, etc.

Most sales trainers will tell your conversion rate on the first four touches is in the single digits.

Thanks for clearing that up...I had read something that implied that I could take over a home by paying the taxes, but I clearly didn't fully understand it.

And vacant land need to be fenced off and everybody including the owner has to be excluded from the property.Sometimes here an implied AP is used as an alternative to a Quiet Title, but already having a color of title to go along with it.There was an interesting case here where a business occupied a property and claimed AP, having the 21 years. 

This also does not imply that a $1200 rental will guarantee success.

As the name implies, operating expenses are the costs that are necessary to operate the property on an ongoing basis. 

Allowing someone to live in your house to keep an eye on it implies tenancy, at least in my state.