I see people emphasizing the importance of the deal analysis all the time (especially on the podcast).

I cannot emphasize that enough.That being said, I also have to admit that this is one of the best places in the USA to do what you're trying to do.

Just to help convince you that I might know what I'm talking about is that I was born and raised in Dallas, Texas and I graduated with honors from college in business that emphasized real estate. 

With my business degree and it emphasized real estate, gave me enough points for one and did not have to take anything to get it.Since I am currently bedridden, and I was when I found BP, and that allowed me to learn full time, 7 days a week. 

It's far from easy to find market growth AND cash flow at the same time, but where I was looking at markets where cash flow is king before, I'm now starting to think I should emphasize growth a bit more so long I still have a decent cash flow cushion. 

I consider landlording to be a two-way business relationship -- I have agreed to provide a decent place to live at a fair price (and have the responsibility to respond quickly when anything happens), and I emphasize (often) that the tenants have also agreed to follow a set of expectations and requirements, including paying the rent on time.   

I emphasize free because you'll never get through the body of free knowledge out there in 10 years. 

It's why I emphasize getting that right before considering the other elements of the equation. 

Is the strategy of wholesaling lease option contracts within real estate guidelines if the investor doing the wholesaling is very careful in the marketing and execution of the process to emphasize he is only selling the rights to the lease option contract and not selling the property both with the property owners and to the tenant buyers and also clearly states he is not a licensed real estate agent?

That is an important point, I wanted to emphasize it again.