@Jeff Greenberg, @Ben Leybovich - Your comments are helpful but leave me with a fundamental question: How much cash do I need on a multi-family property?  

Yes, in my brief experience here, I feel like the majority of people getting involved with 'wholesaling' do not seem to have great deal of fundamental RE knowledge.  

And a cosmetic rehab without the fundamentals done does not sound like a good buy-and-hold.

We leverage jeonse in a different way though that is very unusual for investors in Korea.Generally speaking, we find good value properties in high potential areas with good fundamentals, negotiate down as low as possible, sign a contract with the settlement date stretched as far as possible, and market for a jeonse tenant to come into the property at a date matching our settlement date so we limit how much money we need out of pocket to close on the property.

“We may be seeing significant pricing disconnects between the market and economic fundamentals, which could result in sudden and sharp repricing,” Federal Reserve Vice Chairman Randal Quarles.

Driven by fundamental market needs in places like NY, LA, SF, etc. , it can be confused as just a “fad” due to the progressive culture of these places but that isn’t the only thing driving the demand.

the problem people dont realize is this idea of "value" changes... the inputs and fundamentals are not the same as the last go around.,, you have a lot of pent up demand and millennial buying into the market that will be  trend for the next 15 years easily... a lot more money in the overall global economy due to monetary easing.... and guess what is another very strong fundamental indicator? 

But recently I have been helping my father on a lot of projects at his house, and I'm learning as hard as I can the fundamentals of construction.

The truth is Flipping houses requires strong fundamentals just like anything else. 

But not always and not in every case.The truly great investors resist the lemming like siren call of the "next great thing" and stay focused on the fundamentals of the deal at hand.