First of all, thank you for being the person who is smart enough to know they can't just get into wholesaling to start with no capital.

A more accurate way to describe it is "I received no income" - because you can have deals but still have no profit if your expenses are greater than your income.If you were actively looking for deals (and can document it) - as opposed to merely planning to start later - then you file Schedule C and claim business expanses such as marketing, driving, technology and so on. 

Cleaning up the lots to unlock their development potential was a smart move.

As for Columbus, it’s a growing market with potential for strong rental demand, but make sure to research specific neighborhoods, local market trends, and the level of competition to ensure you’re making a smart investment.

Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

You are likely competing with a lot of unsophisticated buyers who have money and hear owning a 4 plex is a smart investment.5.

@Chris Seveney Hey Chris, Thanks for sharing your perspective, it’s a smart, long-term approach.

--- This includes requiring Housing Commissions to make better use of technology.

@Eddie Gonnella Also, when you are at such a scale, you may be able to fetch a valuation based off of cap rates, rather than a rev. multiple.So it is possible, and it is smart to think ahead in this situation so you don't get stuck with nothing if you want to exit!

**“Kendric, first off, you’re already ahead of the game with your willingness to learn and adapt—plus, having a ‘mishap’ fund shows you’re planning smart!