Because to provide the seller with value the wholesaler MUST possess the experience and knowledge mentioned above, otherwise the wholesaler is merely tying up the sellers property under false pretenses.  

As others have mentioned, starting with a turnkey property could be a great way to learn the ropes of real estate investing before branching out into other strategies.Best of luck!

On the tax side, you mentioned wanting to roll profits into new deals.

It was 20% down  Like I mentioned on my comment above, it is possible to still finance this property with a non-traditional lender, especially when you are putting 20% down.

I'm doing a refi on a multi-family building right now with a lender I found here on the BiggerPockets Lender Finder - https://www.biggerpockets.com/business/finder/lenders They've been able to help me get a DSCR loan which others on this post have mentioned and they've been pretty quick should be able to close before the new year in less than 3 weeks from when I started the process!

One place that will soon become a rental market heaven is an area around Johnstown/ New Albany where a huge Intel plant is under construction with plans for thousands of employees, not to mention the contractors there now. 

I don't want to get into specifics but we passed on the property for a couple of reasons you mentioned.

Besides the places you mentioned Facebook, Zillow, VRBO, and Craigslist are other places that can be successful for MTR leads.

As others mentioned can you afford the negative cash flow?

This is one of the things that @Matthew Irish-Jones mentioned above - be careful about putting #3 on his list above #1 and #2.