The number 1 mistake I see new investors make is buying in bad neighborhoods.

What is the average rent in that neighborhood for the number of bedrooms in that house?

the gurus sell the idea of wholesaling as easy and no money down but that couldn't be more wrong. there is no guarantee return on the money invested in marketing . a wholesaler needs to do a lot, a lot of research to the local market where they are trying to find deals. you need to not only find the deal but prove that it is one to a potential buyer/investor. now Im not trying to discourage you, there are plenty of ways of getting started without MUCH money down .you can get a few cards made at a copy/print shop. you can talk to people and let them know what your trying to do. you can build a social media platform which is free. remember as a wholesaler your simply trying to find the deal then sell it at a commission. a friend of mine that is an agent uses their title company  to find information on houses in my neighborhood,  become friends with agents!.

If the answer is yes then begin the shopping in an area/neighborhood which has yet to see the full brunt of the bullish upturn. 

Don't know much about this neighborhood in terms of quality, but as far as I know pretty average.House 2: https://www.redfin.com/WI/Eau-Claire/862-E-Grand-A...Foreclosure. 

It really all depends on what your numbers are looking like for your property in your neighborhood.

Our basic goal is to build a portfolio of positive cash flowing multi family properties in up and coming neighborhoods around the city.

Most of my investing has been in North Main and the Augusta Road areas...urban lifestyle but good schools, affordable living, and convenience to everything...it's a gem.Regarding #2, yes our redneck homes are pretty affordable for many northerners...my neighborhood is mostly transplants and foreigners.

Either you bought it well above market value, or something catastrophic happened to it (or to the neighborhood).Really curious to understand a little bit better.

The neighborhood is turning over with updates and remodels.