Sounds more like trying to win a popularity contest, aiming to gain votes and likes from people here that also have something against wholesaling.But OK let me play along.Let's fact-check this:OP: "It’ll truly be strange to even hear people and gurus trying to make big money off it."

For me, I have very little to gain from posting at all. 

I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

The 2 year mark would save you on taxes, if you have a gain within 5 years, but it seems like you're in this for the long haul.Some advice for screening tenants.

But thats part of the being OOS and as I gain more experience and I better team I can minimize that.

I don't say it is or isn't worth it - only each of us can make that decision - but I criticize no one for asking the question regarding enough, or even recognizing their lack of desire to spend an inordinate amount of effort to obtain what they consider marginal gains. 

As you gain experience and tackle even bigger projects, you'll realize that what once seemed like a mammoth deal becomes totally doable.When it's crunch time, there is no room for improvisation.

4) would this also work to defer gains on fix and flips?

If you don't care about income and are more of a capital gain kind of guy, prices are already high (as you noticed) and there's plenty of land available to buy so I'm not sure how much is left in the tank.

If I got a home equity loan for Property 1 and used the proceeds as downpayment for Property 2 and then got a 2nd loan for the remaining 75% purchase price for Property 2, when I sell Property 2, can I use the Property 1 loan as part of the cost basis for computing Property 2 capital gains?