So is this just as simple as showing how much the property makes or do they also look at personal debt to income, credit score, reserves etc as well.

I do have an agent I know personally but she's only in the area at certain times of the year.Section 8 would be better than nothing.

BTW: most owners that have hired a PMC, don't want to speak with you, much less meet with you in person to hear a hyped-up sales pitch.Also, you want to do rental arbitrage - so, you will need to be properly licensed to manage properties you do not own as required by your state & local laws.- why would an owner want to do business with someone NOT properly licensed?

Business Continuity: If you invest with partners, a properly structured key person insurance or buy-sell agreement funded by life insurance can ensure a smooth transition if one partner is no longer around. 

We have learned so much, the main thing is that your architect matters a ton.

We also have relatively low expenses (personal expenses, mortgage/escrow on other rental property, and escrow on current property) that are around ~$120k/year.

A duplex could be a great compromise that lets you start small, build equity, and learn the ropes while mitigating some of the financial risks.

Hey guys, I'm just getting into the wholesaling world and have a couple of questions:What were your first mistakes that served as great learning points?

@Marcus Everett,Welcome to REI and you have found the best place to learn in the BP community.  

You will have to verify those yourselves to ensure you end up with correct operating expenses.Quote from @Andrew Newcomb: Just following up on this in case anyone is still following:I learned about "cap rate" and "cash on cash" metrics in the BP learning articles and watched a couple vids on the BP rental calculator showing how it calcs those metrics for a prop (you have to add the details like loan info, expenses, etc). very cool tool.