255k for 1200 a month , terrible , How many units is this and where ? 

Hi @Scott Williams that's terrible.

Wholesaling is a terrible way to get started in RE. 

It is not illegal to have an owner occupy post close in a pre-foreclosure sale, although it is certainly a terrible idea.

I can tell you that EVERY market will have excellent tenants and terrible tenants.

So an investment or platform that looks fantastic to one will look terrible to another and vice versa.I'm a conservative investor and very picky.

A lot of investors bleed money by making terrible mistakes as landlords.

That doesn’t sound terrible.

In fact I'd guess you could probably structure a discount into your agreement just because of the logistics (no roofs, no foundations, no yards). 1031 isn't a terrible idea but you've got a few hurdles outside of costs - you're going to have to have some possible properties already identified as your window is small, you'll still have to manage the property unless you go through a PM, you'll lock up more/most of your principal since you're going 'bigger'.

Some are terrible and some are great.