Unless you're talking about wealthy people who happen to be renters, renters are people who are very conscious of the costs of moving and they don't take those costs lightly, if they can absorb them at all. 

If you want to get wealthy buy for cash flow.If you want to speculate buy for appreciation.thanks a lot man for the advice!

I obviously don’t intend to rip anyone off but I also know there are very wealthy people out there so It’s not far fetched for a group of wealthy people to be able to throw money together to get that kind of cash or get a hard money loan so I was just wondering if anyone knew from personal experience how often that kind of stuff occurs.

Zoning visited after the purchase on a complaint from a wealthy neighbor and made her tear out the piping for the stoves before they approved the SFH CO.

We found one neighborhood that, I guess, assumed because they had large lots, then it would be loads of large homes with wealthy individuals, but probably the market at the time, due to this place being the middle of nowhere compared to Houston, ended up just being a lot of mobile homes (they didn't have the foresight to block that I guess), but the HOA rules were written with things codified to where like the only way you could rent one room (and literally only one room) was if it was "your servant's quarters", and it couldn't exist anywhere but part of the house, because you also couldn't have any living space in out-buildings... so like the super-common Houston area 'garage apartment' ADU setup was blocked as well.

You don't need to buy big to retired wealthy.

for example:if you are independently wealthy with all your properties paid off. 

I knew real estate was a good way to build wealth. I

Most veteran investors I know who are now very wealthy had regular jobs (professors, engineers, nurses, mechanics, HVAC techs, realtors, etc) to pay the bills and to build capital.

If someone could predict the market perfectly, they would be wealthy beyond anyone's wildest dreams.