I have a number of lenders that I work with that will do up to 80% on a cash out refinance.

The problem with averages is that a large number of high or low value properties can skew the figures either way.

If you need to cover utilities, the numbers tighten significantly, making a lower purchase price essential.Let me know if you have any further questions or want to explore these numbers in more detail—I’d be happy to help! 

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?

Mostly gone are the contributors like the ones in this thread: lots of posts and lots of votes.

I understand it will be hard to match (if not impossible) the 10% yearly income and 5% appreciation of properties (those are my numbers).

I don't want to have to paint an entire wall (multiplied by the number of walls that have had nails in them) every time a tenant moves out.

Thanks for the suggestion @Matt Giordano. 

The property is livable, but I am account for a pretty significant turn in 4 - 7 years of paint, flooring, and any miscellaneous repairs that the inspector could have missed since it was occupied.

Pensacola is a great market for investing and the number of properties available right now is up so there are actually some on market properties with potential.