Most of my home owners are out of state owners who purchased either their future retirement homes or simply liked the tax advantages of owning a vacation home in a state that is fiscally healthy. 

On the other hand if you wholesale it and get it under contract for $60K and assign it for a $5K fee, then you take a short cut to getting to your $5K profit, but you miss the opportunity to learn the rehab part.As has been said before, verify your numbers...trust no one's numbers but your own, assume nothing.

Simply put, the structure & scheme were bogus.

They have to cut into sheet rock and fish wires.

Often times, your tenants will either not pay you (and stay) or simply move to the next property.

Best way to offset this is to pay any credit cards before the statement cuts so they report zero balance and try to raise the limits thus lowering your overall credit utilization.

My personal opinion is that the best strategy for a 4 bedroom house is simply to bite the bullet and replace the system. 

My most valuable tool has simply been the networking i have done. 

Hey, I’m a long time lurker of bp and the information found on here is simply amazing.

That gets expensive and cuts into profits.