Our partner, Ed Lindsey, identified the Persimmon Lane deal and brought it to our attention.

It was brought up to PM in my home town and they weren't in the position to purchase it so he called me and asked if I was willing to take this deal on!

Our partner, Francisco Diego, identified the 4th Pl SW deal in Vero Beach, FL, and brought it to our attention.

Our partner, Ernest Bannister, discovered the N 31st deal in Philadelphia and brought it to our attention.

I think wholesaling started out as someone exploiting a "blind hole" in the existing real estate process....eventually, enough people felt they got scammed and made some noise.The handful number of deals I listed from a wholesaler were enough to convince me that I don't want to list a property brought by a wholesaler...they don't yet own the property, and they try to make money off the ignorance of the "owner of record". 

Doesn't matter if it's an investor or a traditional buyer needing to get a loan that was brought by a realtor. 

This is 70s style urban blight brought on by an unaddressed homeless problem and lots of crime. 

@Joe S. good point and glad you brought it up.

So while I can't speak to Gregg's comment about the founders experience, it appears the founders have stepped back and brought in a full executive team.  

Using some basic OP numbers and some assumptions:Each property worth $125kGross monthly rent $1250, or $15k per yearInsurance & tax $2500 per yearNet rent $12,500 per yearLoan to value 80% ($100k each property)PI+PM expenses = $12,500 per year, so each 15 year mortgage zeros one condoAssuming no rent growth, no appreciation and no reinvestment of money harvested:So you can see using these simple numbers after 15 years you've brought in the exact same amount of money, but you had an additional $1.15 million in tax deductions over that time, averaging about $77k annually in deductions which saves you about $20k per year (avg) in taxes, or $300k in 15 years.