He practiced that well and his son is now one of the largest developers in the country, if not the world.The nice thing for investors is that there should be a 2-3 or maybe 4 year gap in major apartment developments coming online. 

Also, asking for exorbitant fees up front to provide a term sheet is not legitimate or ethical practice.  

Learn how to underwrite deals by practicing.

I understand the challenges and competition in this field and am willing to put in the time and effort to learn and grow.If you have any advice on how someone in my position could gain practical experience or alternative ways to get started in real estate without significant initial capital, I’d be eager to hear your thoughts.Thank you for your time! 

They're practically free and full of information.  

Also looking for best practice guidance on the risk tolerance based on these numbers.

You will get convinced you can do seller finance or sub to, but it's not practical unless you are going to spend all your time doing that.

Yet, it seems common practice for wholesalers to use this contingency to back out of the contract simply because they have not found a buyer within the inspection period.

If you obtain letters of interest, you can exercise your option.

Nonetheless, I implore you to do an exercise.