I felt defeated, until I stumbled onto Bigger Pockets, and as many people say here, why spend thousands of dollars when I can spend significantly less and have a whole community to support me?

I ended up taking over repairs which totally defeated the purpose of having a management company.

That defeats the whole purpose of the yellow letter and will lower your open rate.

Of course, this defeats the general purpose of "wholesaling" with no money...Either way, with your new license, you can technically open your own shop.

I don't think Americans realize the seriousness of this defeat-- and the permanent effect it will have.

They both advised me against making any side deals with the seller unless they were in full disclosure to the bank, which defeats the purpose from the seller's perspective anyway.I am waiting to hear from the seller.

Doesn't giving a gift expecting something in return kind of defeat the purpose?

Just buying assets at .50 cents on the dollar or better... stay deleveraged..Why would you leveage personally... that defeats the purpose of what you are trying to accomplish..Ie... alot of books and people teach when starting out... to pull cash out of their personal residence...That's gambling yoru sole goal is to get personally free of debt or at a very debt to income... 30% or less or so...So, you build a business that uses leverage to create or find equity and duplicates... and then get equity out...Imagine you were back in times... and you found out you could mine for gold...You go out and find gold... and then put it on the shelf hoping one day it would be worth more... well of course it will....but, the moment you found it... is the moment of highest return...

Also, majority of contracts are fixed rent unless you specifically stated in the contract that you can raise rent during the period, but that pretty much defeats the incentive for tenants to go on a year or two lease instead of a month to month lease. 

Im feeling defeated.