Takes a little maneuvering but if you're making 10's of K's of $'s per year per place, who cares?

Wholesaling is mostly like any other market with a low barrier to entry: it's filled with people who have no skin in the game. is it possible?

@Nick Zias I know several people that own multiple homes in MSP.You need to do it because you care and have the money be a secondary goal.

It is not in the best (Or Worst) neighborhood so I know it wouldn't attract the best tenants but if I screen properly I think I would find good enough tenants to take care of the property and pay rent on time. 

From what I understand outstanding tax liabilities (even with IRS and not just property tax) are another big ticket item that you have to be careful of.  

Just remember to keep the two documents (lease and option) separate;  one should not refer to the other.Option fee should be non-refundable, however if you want to credit the option fee towards their down payment WHEN THEY BUY, you could structure it that way.Personally, I would be very careful about how you go about 'crediting' $xx of monthly rent towards their down payment. 

Go through it carefully, or ask an attorney for help.You want to show that you're serious about closing when you submit an offer.

Monthly expenses will always be low when you don’t take care of a property, which was clearly the case. 

Be careful about posting addresses on here in public.

Really the only way they don't pay rent is if they don't have money in their account, which is something your screening process should take care of!