The only thing you need is experience a model, and a team.  

I do / done many rent to own (contract for deed) and a few seller finananced deals where I keep the note.Why not in parallel use a flat fee listing on MLS too?   

Having grown up in Florida, I was paranoid about the wind and a potential fire and sure enough at 10AM one broke out in the vacant lot adjacent to our property. 

I think this is a calculation a lot of homeowners are making right now--especially if they have a low interest mortgage, equity, and their house will cashflow as a rental.The choice is a personal one of course, but I think your future self will thank you if you pull out some equity from your existing home with a HELOC for the downpayment on the next house and a cushion renting your current home, use a property manager as you have other things to do, and buy the next house and do the same thing again.

Which essentially puts some standards in place and a good guideline for handling all things in the company. ie. company mission, telephone standards, tenant screening process, etc. 

A few days before the sale the frame farm house was burnt to the ground and all that was left was the standing brick chimney and a lage pile of ashes. 

@Ilir Livadhi I think you are referring to property wholessalers telling you how much the rehab will be - and as you see, their numbers are often not based on reality.

As an investor and a commercial real estate broker I would not expect a buyer  to spend a dime on due diligence unless the buyer/seller come to an agreement on a purchase contract.

as a flipper, with the participation of a wholesaler and a hard money lender, what actions should I take BEFORE I close and buy a house (tell me step by step please because i dont really understand the sequence of events) and also please tell me when to do due diligence to make sure how much does it cost to renovate the house and is it worth buying this house?

As a result, we have significant water damage to the floor and rugs in that 2nd floor bathroom and a bedroom, plus there is even more significant damage to ceilings, walls, furniture, and rugs to 2 bedrooms on the first floor.Our initial goal is to dry as much water as possible with wet-vacs and dehumidifiers.