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. 

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

I have pulled a permit for removing a fireplace, but probably would not have but I had a significant remodel going with permits and did not want hassle of him making an issue of removing the fireplace (the inspection for fireplace removal consisted of only verifying gas cap was in visible location, he did not even spray it).

The aspects that would make me look very hard are: 1) how do I ever actually get my $$ back out of the UPREIT?

That typically puts your rent to sales price around .75-.8 ish give or take but these areas tend to appreciate more consistently from what I've seen and the rental clientele is more consistent. 

Reason I ask is in note investing it is actually usually pretty difficult to lose money consistently, thus the questions. 

For short-term gains, options like private lending, where your IRA acts as the lender, can provide consistent returns through interest payments.

If you are into positive affirmations, the Miracle Morning, Tony Robbins, etc. then you'll enjoy that aspect. 

I will not know that until I climb under the house and into the attic etc... for inspectionThe area is close to things and is not in a indicated crime location and has a very nice open lot area on the corner with it but again assuming the tenants stay and lease I am looking at that as a smaller issue..Thanks for bringing up the concerns but I have tried to do my due diligence but do not really know is the analyzing aspect has missed something major.

Your registered address not matching the duplex doesn’t affect taxes, but updating it for consistency is advisable.