For 2017, total rental revenue was $116,000, total expenses were $77,000, and profit paid to the owner for the year was $36,000.These aren't great Cash on Cash numbers, but they are a means to a desired end (owning a place in this location). 

The other thing is the homes all around my property are getting bought and scraped and row homes are being built in their place and I think that will make my little old house less desirable when it is towered by these townhomes. 

The waive of contingency likely only places your earnest at risk if the problem cost is above what you desire. 

ARV minus desired profit.

What does that mean - it means that you can take all the classes you need to be a successful investor, manager, financial planner, ethics and legal reasoning etc with the only penalty being you get a grade less than desired and of course you are spending for college.

I'm considering wholesaling to build some capital to then get into flipping and eventually SFH rentals.At almost 40 years old, I feel as though I’m getting a bit of a late start and my desire is to be aggressive, but smart.

This location is very desirable and it will go fast as it is now.

Would rather buy in a desirable neighborhood that I know I can sell, rather then taking a bit more risk w higher possible payoff at this point.

I currently have enough money saved up to purchase a 3-4 family using an FHA/FHA 203k loan in my desired location, which is Worcester, MA.

I would have to know your risk tolerance, your desired cash on cash returns, your location requirements to see if what you are trying to do is realistic or not.