I might have got it from decades ago of listening to Nanci Griffith and other folk troubadours.)In case you wanted just a touch more detail on why pre-approval is not so bueno on VRBO (but for me, is fine on AirBnb), here's my old post on it:https://www.biggerpockets.com/forums/530/topics/1223156-less...That 72-hour hold bites.

Moral of the story is check with your lenders to ensure you can hold the property in your LLC.

May want to hold tight until things start to loosen up or the property can appreciate more. 

Holds the contractor accountable.

Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

Account for all costs, including closing fees, holding costs, and repairs.

Most newer wholesalers I meet are looking to do this just to build their own portfolio, hold on to the properties they want and capitalize on the ones they do not.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

You are still going to have holding costs and a heloc will just have less holding costs that you would if you were doing a personal line or hard money. 

Sharon, thanks for sharing these stats—Houston is clearly holding strong!