Pick a solid B-Class suburban area.

You also have to consider the down time of not renting while you renovate and likely having to fly in several times to check on work, meed contractors, pick up supplies.

Hello I am a new wholesaler and I picked up a deal just outside of 1604 near San Antonio that I believe is great opportunity.

Under that, it gets very tough.If you plan on retaining/keeping any of the properties you pick up (whether using hard money or otherwise), I strongly recommend you start working with a lender now to see what can be done about your credit.

Pick careful if you have college students when you move out. 

I want to be somewhat hands on so I would pick markets that are driveable for you and visit frequently. 

The members looking to lend just pick who, or a deal they want to lend to.

I see some lenders out there would just pick the "lowest" rate and the client ends up paying more than 1% of the loan amount at their closing costs. 

It all comes down to picking the right areas that work well with your personality and attract the type of clientele you feel comfortable working with. 

I see some lenders out there would just pick the "lowest" rate and the client ends up paying more than 1% of the loan amount at their closing costs.Key point is "Lowest" rate does not mean the cheapest rate  I have worked in traditional community banking for over 7 years.