So, only invest in cities that meet the following requirements:Low crime: Companies are unlikely to choose high-crime cities.

So really the question is- when is the rental going to be in service?

Food for thought for me and you : If you where to start all the way from zero in wholesaling, how would you rebuild going back up?

It could be the rehab they did was the right thing for the property and one that might get you more rent.

"A second question is if I finance the car purchase can I also deduct the business use portion of the interest charged on the loan?"

I think its the way to do things.

The younger you can start, the better.

If you and your wife are on the same page, I say absolutely go for it.Don't worry about the naysayers telling you to invest out of state if that's not something you're comfortable with right now.

The breakdown is as follows:2 bed / 1 bath1 bed / 1 bath1 bed (studio) / 1 bathThe property was previously rented out for a combined total of $3,400 per month.

I'd recommend the following:1) Continue to stay at home to save up more2) Buy the crappiest home in a good neighborhood, with financial help (parents?)