Thank you for the "real world" look at what comes to view these sort of properties so others may ask themselves, "Is this the class of clientele I desire to do business with."

From my research, I've found this sort of housing is best for 1-2 people max.

Here's my situation:I am attempting a wholesale deal from a highly motivated seller to a rehabber.

Nope. 50% is the long term average... accounts for things like having to paint the exterior every now and again, the occasional septic issue, replacing a room every few decades... those sorts of things are big expenses and don't show up in year to year reports.

Should I get it under contract first and just let the title company sort out the mortgages and liens?

Lots of ways to invest, some require absolutely no cash and have very little risk... what sort of real estate "investing" are you looking to do?

Favorable money flow, instant equity, and also taxes benefits are generally almost all powerful motivators for Memphis investors.

Now I am starting to see the error of my ways... ( although I haven't started rehab yet so maybe I shouldn't speak to soon) @Brian A and Kevin- Thanks for the motivation guys. :) Although I missed the cup of coffee (and breakfast) I have definately not given up hope :D

Another target could potentially be equity investors willing to purchase some sort of hybrid security that is debt-like with participation in the upside from your buy-and-holds.

To Larry Burchett's point though,One technical question I have is whether or not there is a sort of moratorium with regards to DTI.