My experience (which is slim) is that older buildings that don't meet new code standards are often grandfathered in. 

We were at a tax lien auction, bidding was insane so margins would be way too slim for us.

The issue is the market is white-hot and already has investors, so pickings will be slim or over-priced for a casual investor in that market.I would focus on your house first...make sure your living expenses are as low as possible, pay down any debts to increase your personal cash flow, and save save save.

Cash flow seems slim to me for such a big purchase.

The multi market is pretty slim Pickens here so for the most part we're seeing SFR rentals taking most of the investment dollars.

I hear the margins are pretty slim. 

My first property was a fail due to an expensive rehab and margins that are way too slim.

However, the multifamily market is somewhat slim pickings in Portland, OR right now.

Deja,I don't think that being young and female are a detriment to wholesaling, but not having the knowledge is...The chances that someone else is going to let you shadow them is slim, being that you will eventually be their competitor...The trick is finding the deals... that is going to be very difficult now.

I know this sounds like a slim chance, but when I've told this story to others, I've heard of it happening a lot.