Many wholesalers don't take the time to accurately calculate repair costs and instead just make up numbers on the spot, hoping to find 'a greater fool' to spin the contract to.

Trying to do it all at once will likely end up having you spin your wheels.For wholesaling, it is often best to cast multiple nets to accumulate the most leads and then find out which gets you the best leads (with best being leads that turn into closings).

Buyers that are out of touch with the markets can find themselves spinning their wheels for awhile and months turning into years without doing anything. 

you need an equity partner you will just spin your wheels looking for a second position lender.. they are far and few between and I don't know many who do it as a business model.we do a lot of equity partner deals all over the US.. but its not a loan model its an equity model.. this allows the folks like you to scale.. keep in mind if you cant take it down nothing of nothing is nothing. if you bring in big money equity and can take them down them you share the up side.. you have partners for life and can hit the scale you want.. other wise just keep searching for that unicorn second position lender that basically does not exist.. its total risk money for the investor so they need to be compensated for said risk.

https://www.foxbusiness.com/mo...    When the prices of SFR s in the Bay area and specifically on the Peninsula from Marin county to los Gatos sky rocketed in the later 80s.. IE homes shot up to 350 to 600k in those a...

If no one bids you get the property back but you most likely are dealing with preservation, backtaxes, maintenance, utilities and realtor fees.If you have $5k currently to start, personally I think you are going to be spinning your tires as caught in the hamster wheel as you had noted the $ you spend on Due Diligence and operations and chasing notes (hours spent) is not worth the $500 you will make per year. just my 2 cents and others probably disagree, but I would recommend you buy a partial at 10% yield and not deal with the headaches.Target Property TypesThis should be based on $ value, size and location. 

This would make for an interesting case study if we put a landlord's spin on the content you bring back.

We painted everything this yellowish beige....and it was out of "favor" so fast it made our head spin.  

A grinder spins at 10,000 RPM or more.

Getting business up and running takes time, no matter how you spin it.