Only issues you would run into: ...you screen bad tenants, they don't pay...government won't evict...you have a short term shark loan and banks won't refi you out in 6 months because the economy has gotten worse (and it likely will) --- make sure you have good credit...you don't have adequate reserves to weather any repairs"Oh, that's a lot!" 

I was looking in Birmingham at first but there is to many sharks in that market already.

It also appeared that you didn't need to spend too much time either.However, those are some super razor thin margins.After tax - its prolly looking at 2k.Sorry for sounding so negative - you are a young guy - keep up the good work! 

What do you say to make them understand you are offering them a solution, not a shark feeding on their misfortune?

I could have backpedaled, offered less, and still got the deal, but I stuck to my original offer.For these homeowners, they were desperate to offload this house, didn't know where to turn, had been mistreated by other wholesalers and sharks, and the offer I made allowed them to move on, clear the books of debt and back taxes, get some much-needed medical work done, and ultimately get a fresh start. 

I have come to realize that compared to where BP was say 3 years ago, we are sliding in the quality of informative posts.It's rather difficult to say, but this new wave of newbies bouncing in speaking authoritatively as if they know something is getting harder to keep up with, then include the sharks looking for prey, the wanabe gurus, and those that don't understand Chapter One of the Principles of Real Estate and we have a real mess!  

And got our free dive with sharks in as well.

That doesn't mean you can't grab a turn-key rental or two along the way, but ground-up spec construction is a different animal that does require some experience to tackle and not get eaten by the sharks.