And yes, the entire argument around wholesaling everywhere is that most laws that are being pushed against it (In the states where they are) are because of practicing real estate sales without a license.I am an attorney, but I don't give legal advice on here and never said I was giving legal advice so not sure where you came up with that, but your attitude suggests you will be part of the 99 percent of bad wholesalers who are out of business quicker than an eye blink.You are asking a lot of questions, which is good, but you should be asking them of local wholesalers in your area, in person, so you can see what they do versus what everyone on the Internet tells you.

The only random thought that come to my head was I Just thinking about lateral versus vertical scaling.

Tiling your tub surrounds to the ceiling not only looks nicer, but also helps waterproof the area better, and will likely never need replaced (versus vinyl surround which last about 3 yrs before tenants start cracking them, in my experiences).

As far as break even cash flow on the rentals, it's the timeless question of cash flow versus equity.

@Sushil Iyer I agree with @Travis Timmons that Temple and Belton are generally better pics with a more diverse economy versus Killeen.

Your rate of return was 13% versus the 9% return not utilizing leverage.  

Quote from @Kyle Kline: Quote from @Trevor Finn: @Kyle Kline you bring up a great point, and it’s important to clarify the idea of investing for equity versus cash flow.

Rental properties are great for passive income, and I’ve weighed the benefits of local investments versus out-of-state opportunities.

Understand the difference between owning RE personally versus in a retirement plan. 

Other than doing your own due diligence and managing the management, someone else does all the work.Direct through a turnkey provider or broker versus who?