There is an excellent REI networking event each Thursday from 11:30 AM to 1:00 PM at Big Daddy's Burgers & Bar.9070 Research Boulevard #101, Austin, TX.

Some really high income areas you might get away with covering most of it but not the poor to average areas.The same workers that make a big noise about wanting 15 dollars an hour for filliping burgers will want that burger still for 2 dollars.

Generally i read the 1% rule, renting out something for more than 1% purchase price. 6+% cap rate is good etc. 

OR actually double close.I'd prefer to avoid double closing as it just costs to much and I believe it would not allow for a win, win, win situation between seller, wholesaler, and cash buyer.I have also heard people talk about Opinion Agreements as a more legal alternative to the traditional purchase agreement approach.Basically who in here is wholesaling in Minnesota, How are you doing it, and would you like to meet for beer, coffee, pizza, or a burger to give me a bit more insight on the process?

The issue is that the CC&Rs literally prohibit ANY other use other than a burger and fry joint for the parcel I want to buy. 

If you buy a McDonalds franchise you learn everything there is to running a burger joint.

The building on the left (further south) is a Burger King.

It'll be similar in concept to the 50% rule that we like on bigger pockets.50% rule: rent * 50% - mortgage payment.What lenders do: rent * 75% - PITIA.If that calculation yields a positive number, we've got some amount of qualifying income.If it yields a negative number, we've got a monthly debt obligation.Note that this is in lieu of "PITIA as monthly debt obligation, period."

The group meets every Thursday at 11:30am at Big Daddy's burger bar at Burnet & 183.

As a side note, you should watch the movie "The Founder" ... it is about Ray Kroc and explains how McDonald's is in the REI business, not the burger business ... similar type concept ...