Personally I wouldn't feel comfortable trying to wholesale a relatives $1M home knowing that I am breaking the law if I cross over into doing anything that can be considered representing them in the transaction, and knowing it will only be marketed to people who buy properties wholesale (typically investors who don't want to pay retail prices), instead of the majority of retail buyers active in the market who are typcially willing to pay more. 

Yes there are broker's out there that also don't do good business, but they typically work with clients that do not know any better. 

. :) It doesn't talk or teach about making millions as an agent but helps you understand what a career typically looks like and things to consider before jumping in.

What I see is typically in the $3k - $6k range for those types of properties.

Britt,My firm has evaluated some smaller properties (under $500k) in the past for cost segregation, and it generally does not cost justify moving forward, since the benefits are small, and typically the tax liability on the income is minimal if any.

Also, I wanted to convey that the type of investor I describe should on;y accept a quality tenant well above what’s typically considered acceptable in the industry.  

In hot markets, some wholesalers and investors use 80-85% of ARV (minus repairs) instead of the typical 70% to stay competitive.A few tips:1.

@Isaac Terry Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The additions they put in to make extra bedrooms take away the standard livable areas you would find in a typical SFR.

I'd talk and look at forums at strategies but with your capital you typically need 100-150k in liquidity to do this.