Wholesalers list too high, under budget the Reno and overstate the ARV, 99% of the time.  2 of the 3 I have purchased were from the same wholesaler, who I generally trust his numbers, but still confirm.  

We mitigated with strong covenants and building requirements with a design approval requirement. 

My dream is to do flips (I am self-employed interior designer so I have a fair amount of knowledge/experience/ideas/hook ups when it comes to the renovation world) but still not sure how to bridge the gap between where I am and where I want to go considering how insanely expensive real estate is here and also how relatively inexperienced I am with regards to the whole process (aside from interior design and some construction knowledge).

Thanks for the confirmation.

Thanks for inspiration and confirmation!

If you'll pay your contractors via signed contract or just invoices, you won't need to worry about 1099, to confirm, talk to your CPA. 

I am a 25 year old design engineer in Cincinnati, Ohio working towards my PE.

NGBS 2020 Bronze Level Certification Support Services and Statement of Energy Design Intent (SEDI) Services.New construction  Would love to see what other people have done.  

And if the past owner said they fixed it, ask for the engineering design and proof that it was professionally repaired and ask if there was a warranty.

I already knew what he was saying as I follow lots of economists but there was something about his presentation that confirmed the path I am an on and I felt like he gave me permission to fully unlock an aggressive approach to acquiring property.