Another thing that I would do if I was not licensed would be put together a decently written LOI that can be fill in the blanks and just shoot them off to the listing agents.. shows sophistication and can be done in 2 minutes.. but the reality is re trading on these beat up houses is how we get our deals.

Some leases go up after 6 months or after a year for longer term leases which could increase your ROI.By asking the seller these questions, they start to realize that if their answers become a turn off to you, then they are already thinking they should lower the price b/c you are afterall a very sophisticated buyer.Compile your list and see if there is value in paying less than 1% rent ratio.  

Look him up on Youtube - he has tons of content/videos on subjects like "buying rentals through your IRA" and "putting your kids on payroll" and "the business owners guide to financial freedom".  

If you over-sophisticate little houses with debt, you will forever be subject to crappy financing.  

Eric Kristt a lot of DFW investors that I met a couple years ago that were pretty sophisticated have stopped looking in dallas because it is not an emerging market anymore.

This is much more sophisticated than "wholesaling," and, profitable. ;) good luck to you.

You have to have both a buyer and a seller that are both willing and able to close in order to create a transaction, and price and terms are the market mechanisms for equalizing supply and demand to create transactions across a market of buyers and sellers ... inefficiencies can occur when there are distortions in the market that limit the number of buyers or sellers or otherwise creates an inequality between buyers and sellers that cannot be easily resolved by the usual market mechanisms of price and terms.Inefficiencies can have a dark side, as eluded to in comments above ... if an inefficiency is artificially created so that a more sophisticated operator can rip off a less sophisticated, weaker, and/or desperate person, that may be profitable and even legal, but can also be morally appalling IMO ... this never gets discussed in polite conversation here on BP but think it is important to understand.

Payroll, bookkeeping, etc can mostly be done remotely.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.

'Sophistication' overdone will create more headaches than they are worth.  

Some are still gun shy after 2008.You can get some good deals with credit unions, but their level of sophistication is sub-par to a bank (typically).If you move into commercial real estate investing - go to a bank first.Feel free to reach out to me if you have any further questions.