Do you raise for your reserves and capex, or do you hope your cash flow will cover it? 

I got more than enough up front as the non-refundable Option fee to cover all expenses and rents and to get a judgment against the Optionee.

Aside from downpayment, you want to have a solid emergency fund in place, something that can cover unexpected repairs, vacancies, or any other random costs that pop up.I’d also recommend saving more than you think you'll need and keeping a close eye on your expenses.

Who covers the tax bill when they don't pay the tax bill or the insurance? 

Those that own it can be harder to sell as the cash flow from the business will cover the debt service for the business, but not for the real estate.Example: I had a very high-end assisted living facility on the market. 

So focus on lead generation.Once you have that covered, then yes you do need to have a bit of insight on the workings of the transaction.But all this should be easy to figure out the moment you keep commonsense in play.Start with getting in touch with a wholesaler-friendly attorney for your closings (if you are in an attorney state), and build a relationship with him (that is also what I did)..He should guide you along the way as you go.

Yes we cover Detroit:)

I have found ChatGPT to be particularly useful for testing new Book Covers for BiggerPockets, such as our foray into the personal fitness category with upcoming title "Sweat for Life": 

Should I use my homeowner's insurance policy to cover the costs?

My spouse only makes about 45k pre tax and I essentially cover most of our living expenses except for groceries.