If you  just look at monthly rent minus PITI you will get burned by the expenses you didn't account for. 

I have a burning passion for a real estate but this route would ultimately require me to change to careers (currently in IT) just wanted to have some more insight from you guys.

Or they may just do it incorrectly, and your house burns down.

I have a burning desire to get into real estate.

I agree with all the above and would add from my personal experience that as a Wholesale buyer I would not "steal the deal" because if I did I would burn that bridge with that wholesaler and then would only get one deal out of them instead of a partnership and pipeline that I like to build over time.

In the beginning I tried to do most of the renovations myself, coming home sun burned and covered in dirt each day.  

@Sunny Burns thanks for the info I appreciate ...

My time is valuable and I've gotten burned too many times by investors who ask me to come out and look at a project with the impression they own it and I'm bidding. 

I understand you've been burned by a bad property manager, but you're probably better off trying to find a better property manager than trying to manage it from afar.

They rebuilt on the same lot after their home burned down a few years back.