Long-term buy and hold (like what you describe) always seems to me to be a long bet on an area.    

Don't forget also that downturns are particularly bad for novice flippers that bet on appreciation.

You may soon find that the 7 cap A or B class building is much more profitable than the 12 cap C or D building.  

I have seen very large turnkey marketing companies representing properties here in Birmingham as A- when they are absolutely C+ or lower - cars in the yard, unkempt lawns, peeling paint, etc.

There will be tons of paperwork to be pushed and checked and numbers to be negotiated and verified.

Some of the C or worse properties are selling for a premium just because of the supply and demand issue.  

They use poor judgment and will almost always make the wrong choice especially a c or d class tenant .

Go figure.Here is what I truly believe the best way to figure out your wholesaling fee.Do an accurate ARV, Do an accurate COR, and do a risk assessment on these repairs, and estimate the time it takes to get it all done.

Guess this is a C or C- area.

Yosemite area is rural and home values don’t change all that much so don’t bet on appreciation.