have you factored in insurance and or financing costs if you need it? 

@Daniel W FinleyIt would be interesting to know if it is fact or fiction.

Ryan,Asset based lenders do not factor in debt or income - only credit, cash flow of property and loan to value.

.$3000/mo rent-752 fixed cost-240/mo property management -120/mo 4% vacancy factor-240/mo CapEx costsLeaves $1648/mo $19,776 annually/ $275,000= 7.1% cap rate which isn’t bad as I didn’t account for the efficiency apt at all.

Another factor to consider is how many deals you ultimately want to find. 1 every 6 months?

People are always in some sort of circumstances that have a financial factor and a wholesale buyer can bring a solution swiftly.

Another factor to consider is if you aren't the owner you could be looked at as an unlicensed contractor doing work.

Also, if the market changes or corrects the home values could stagnate or decline, so I wouldn't count on appreciation as a factor in your decision.  

Post a new thread here, post on facebook, drive around and call "We buy Houses" signs and ask to be added to their list, post on craigslist, etc. 

You're going to want to factor in closing costs on the front and back end as well as holding costs.