I’m currently in the process of searching for my first property, which I hope to house hack and eventually convert into a long-term rental. 

Hi BiggerPockets Community,I’m Josh, 26 years old, current project manager and aspiring asset manager diving into a new venture that I’m excited to share.

It's best they be honest with their current landlord so he's not caught by surprise.

Quote from @Adam Macias: Wholesaling as it is today will be a thing of the past.It’ll truly be strange to even hear people and gurus trying to make big money off it.The more people try wholesaling but then end up not having an end buyer or cancelling contracts or trying weird things like novations, the more all of real estate will be regulated and cause requirements like licensing to be able to transact more than just your personal resident purchase.Which I don't know why hasn't happened sooner.Here's all the states (in red or yellow) requiring a license to wholesale or at least have started the process:Credit: REITipsterI think licensing and regulation is a beautiful thing that should happen if you plan to be an wholesaler and do more than one deal... which is going to be the case for anyone taking this business seriously.Or even it being regulated to need a real estate agent to do more than one deal outside of buying a personal residence.I've had plenty of failed attempts with agents in pursuit of wholesale deals and I know exactly why, it's not because the agent couldn't find me deals, it's just not practical to think there's opportunity for the numbers a wholesaler needs to make a profit on top of everyone else needing to these days.Because the only sellers who truly can sell at a deep enough discount are usually those who ran out of time and just didn't do something sooner with their situation.I know many coaches and gurus will disagree with me but there’s no regulations on youtube gurus and what they teach either.If we look at the current state of the market in hot cities, the availability of online resources to the average homeowner, how many deals can you possibly believe are available at 70% of ARV?

BRRRR is not a great strategy in the current market due to the mortgage rates so it's not as applicable as many think from reading older posts or books about how easy it is.

However, check for your prepayment penalty on your current dscr. 

The current owner bought it for $30K and I know they had to clean up a lot of title work and started doing repairs. 

Ask to speak with some of their current owners and current/former tenants.

Hello - I've had my real estate license for a few years now, but the ongoing costs is not beneficial (at the current moment).

Currently using LRS and very unhappy.Thanks for reading.