., and you have risk of theft, fire, etc.I'd rather approach a local vendor(s) w/ your contemplated purchase volumes, and negotiate volume-based rebates to get similar  net pricing w/o the downsides of buying up front.

But I think my partner is contemplating making the quick sale and moving on to the next deal with much less work/risk involved than a multi-month rehab.

Especially, I think, as we start contemplating moves and risks involved in moves into different arenas, locales, and areas of focus.

And Troy Cole , I've actually been contempllating  going to law school, would it be possible for me to go to law school while wholesaling/ investing in real estate?

When contemplating all these ideas, you should look to how much capital you have to work with and what goals you have for that capital along with how actively involved in the loan as drivers to the decision.  

I own a 1.4 acre piece of land in a small town, Fabens, near El Paso and I'm contemplating constructing an apt house on this land.

If you're not familiar with Bogleheads, they're people who primarily advocate a conservative form of passive investing.Plans, such as the one you're contemplating, always seems so great when the market (whether it's stocks or real estate) is working in your favor.

The few out there have a policy set up to contemplate the 3 different exposures, vacant, rehabbing and rented.   

I'm contemplating on quitting my job here to jump with both feet in and become a full time real estate agent to start off my REI career. 

I've contemplated getting into the real estate industry for a while, just never got serious about it until now (yes, I'm one of those HGTV watchers lol but I do understand what they show doesn't show the true/full picture).Originally a Kansas boy, work has dragged me to the Houston area where I am looking at setting up shop as an REI until it can replace my income and become financially free (currently in engineering but love hands-on work).