If you can handle the concept of being mislead on a regular basis and a heavy dose of being lied to by everyone then it might be a path worth exploring.    

I had to fax a letter to the woman at SS explaining the assignment of rents concept.

As far as the other concepts of REI I am sure you can figure them out here on BP.

Even $550 you will profitIf you take this concept and try it with 1 of your properties you would be shocked.  

@Bradley Benski I'm really interested in the concept you brought up of buying multiple properties, and eventually selling them off to gain serious equity in or completely pay off another one of the properties.

For simpler deals (MLS listed, minor rehab) we then split the profit 60/40.  

I have just started learning and I have so many questions to help me wrap my head around this wholesaling concept.

One concept that Biggerpockets promotes is to add value to someone in order to create a mentor-ship or to ask for advice.

The same concept applies through most fundamentally sound apartment markets.

Also do you know where I could possibly find a list or rather compilation of terms and concepts that are important to know for buy-and-hold real estate investors?