You need to learn how to properly run comps and the whole nine before you can get into action no matter which niche of REI you choose to venture into - wholesaling is no exception.

I have yet to see any FHA ready REO, minimum investment I've seen on any REO is around $10k and that's for a DIY. 

To answer your question, you could joint venture with someone. 

This is a big hill to climb for the education and it can get expensive learning from engineers, developers, attorneys and venture capital folks.When land can become more valuable quickly, the cost of changing it and the political aspects will be greater.

Good luck on your new venture sounds exciting.

I am trying  to get my kids excited and bold about DIY!

It's pretty common and between people who are supposedly smarter than us, like in the world of private equity and venture capital :P Lots of peeps with MBAs snapping up companies, inflating their value and hoping to hoodwink the next investment group, maybe not stupid and simply duplicitous, but it happens a lot and I guess it's the same principle.I guess it's incredibly common in Australia.

It needs a good chunk of work, but I do not know the extent and after analysis I wouldn't offer if I didn't find it a profitable venture.

This morning they came and took their ladders and tools only and left all debris so when I took my lunch break today I went outside to remove the debris because I was scared my 4 yo son would venture outside and step on something or have something fall on him and in the process I stepped on a huge nail that went right through my shoe and now I am leaking blood and in terrible pain and still had to return to work so I don't have loss of wages.. 

But my personal experience as a real estate investor is limited to two homes I purchased and lived in that had become or are currently successful ventures in generating cash and building equity.