Hi  @Anthony JohnsonYes that is accurate.

I'm most skeptical of being able to find the right properties and evaluate them accurately, all without boots on the ground.

Your local realtors' estimates should be accurate. 

Have the current lender get more accurate fees and I think you'll have a winner. 

@Tyler HuntingtonI will assume your pro-forma on the expenses is accurate, and there are no common areas where you might need to pay for electric to a light or two; tenants pay for water, sewer, trash, etc.My suggestion is to look hard at your acquisition costs.  

You can get very reliable and accurate contact info for principals using LexisNexis or TLO. 

@Benjamin Barredo The VERY best thing you can do is ALWAYS have accurate comps and repair costs.

My insurance number came from my agent in the area so I think that will be accurate. 

etc etcRun the numbers as a rental and factor your wholesale fee into the purchase price, and see if it would cash flow.Make sure to get as accurate as possible with your numbers. 

You have to be good at:Marketing to find deals, which usually takes money.Knowing how to run comps accurately, which requires MLS access, skill and experience.Knowing how to estimate construction costs accurately - which is a skill that takes a lot of learning.Knowing how to negotiate with sellers.