This means it should cover all your expenses including mortgage, taxes, insurance, maintenance, and setting aside a portion for reserves to cover vacancies, capex, etc.If you can put down 10% and cover everything, go for it.

Starts off free, no credit card required and not a trial period.

All the same permits and inspections should be required whether the home owner does the work or not.

Or can I just start wholesaling until I’ve build enough assets that requires and LLC while developing my business structure as I go along? 

Make sure you are in a state that doesn't have licensing requirements for private lenders and make sure you work through a title and escrow agent so that your money is insured with a lender's title insurance policy and ABSOLUTELY make sure your LLC is listed as a loss payee on the property hazard insurance.

The procedure, timetable, and any legal or regulatory requirements should all be understood when performing due diligence for a purchase.

Also market dependent, section 8 tenants can sometimes be rougher on your properties or expect more maintenance which reduces that cash flow figure.

But just consider a $1250/month rental that after all expenses (including the loan, maintenance, Capex reserve, taxes, insurance, etc) nets you $300/month clear.Now scale that just a little and say you have 8 units, just to run with your scenario above.  

Partially by circumstance, albeit those that I created, I will confidently say that I am the amongst the very few local Real Estate Professionals that are as intimately familiar with the rules, regulations and requirements to reliably invest in a permittable vacation rental property ANYWHERE on the Oregon AND California Coast's. 

Yes, some lenders will require it.