My gut tells me that you'll eliminate a number of possible good opportunities using this method.Alternative: Investors with expertise in certain markets can quickly determine whether or not a property is worth pursuing based on its price per 1 bed unit, 2 bed unit, etc. 

My expertise is high end custom homes, and high end remodels.

But of course with great risk comes great reward, but who is more likely to be in the spotlight on BP?

@Troy S.I would say it depends on your level of connections to businesses and expertise in dealing with different businesses (e.g. logistical/legal/practical issues leasing the space to a restaurant versus convenience store).

@Julia Amelyan I don't know about his expertise in WHEDA but he does my taxes for my rental properties...

I would also look into using the USAA Real Estate Rewards Network.

You will come out of it wil plenty of expertise in the details of renovating 100-year-old properties, but this is NOT passive investing by any stretch of the imagination, even if you somehow do manage to turn this place into a profitable investment while relying on the tender mercies of hired help. 

For those who have done Wholesale and Rehab properties, can you share any expertise (pro's-con's) for either of these in Florida?

I'm looking for a mortgage broker recommendation in South Florida, especially someone that works and has expertise in Alternative Documents Loan (Alt-A loan).Thanks in advance!

This time I decided to explain this obvious scenario prior to the official offer/contract; thus rewarding the owner with $100 of my money for the offer, then paying for the inspection.