In regards of your second question, I want to understand Real Estate to a better level. I

I do not understand wholesaling all that well, but it's my understanding that a wholesaler makes their money by getting it under contract at a low price, then assigning it or selling it at a much higher level.  I

You are absolutely correct.Its block by block, on a micro levelI bought a house in Morningside in 2016. 

Since this is a very small del I do not think your experience level is going to be an issue since you already own rental property.

price growth vs. price level: is DC house much more expensive than PG, and capitol heights in particular?

Whats a good contingency to put in an AOS that will allow me to back out of agreement if needed on any deal.   

And yes, if you’re income level is less than 150k then you can write your rental income losses off on your total income tax which is nice.

If one level is left as a long term rental, I still expect cash flow of nearly $1200.

If I were you I would look at the ROI with your investment and see if alternative investments provide you a better return in relation to the risk level.  I

What if you leve the building vacant for 6 months while doing the reno?