In spite of what I just mentioned, the US, even with a sub-par economic growth over the last decade, has arguably been the best house in a bad neighborhood.

In spite of having a checklist, it always seems to happen.    

My 2 Cents: Cashflow: if your property can make cash flow inspite of the vacancy and other things today, going for a mortgage, you are good now  and for the upcoming future. traditionally, During recessions, the rental values haven't changed mush and the prices of homes fell but the amount since you are already baking into the calc the todays high prices, when they go low you can refinance and then be good on lowering the payments. remember the cashflow is the principle that is being paid to mortgage and Net income after mortgage payment. 

A sense of pride of who I was in spite of "what/where" I was from.

It is acting in spite of it.”Mark Twain

In a few select coastal areas prices are outrageous, but that is in spite of more strict credit rules and a larger safety net. 

You are creating a pattern of success in spite of the typical hiccups that occur in fix and flips.

After you have a reliable deal flow then worry about mainly tax advantages wholesaling or flipping in the name of an LLC taxed as an S corp to leverage additional expenses you can deduct inspite of paying out half of your profits as W2 paying FICA etc.  

If any wholesaler brings me a great deal in my market, I'd be happy to pay them for the opportunity to do business on that great deal.... even if we met at a local shop or in spite of some of the other deal breakers you mentioned.I'm getting a little tired reading all the posts using terminology such as "would-be-wholesalers" and "wanna-be-wholesalers".

It has been this that has held me back from pulling the trigger on my dreams of REI.So, I need to find creative ways to rebuild in spite of debt and the ex husband.