My typical path through a property is going around outside, then down into the basement, and then up through the house slowly with extra time spent in the kitchens and bathrooms.An agent or wholesaler intent on selling you the property, however, will often have a pre-planned route through it that points out its strongest features first, and only then proceed to the weaker features and major problems.You acquire the kind of reading skills you're talking about, and to a great degree, only over time and with experience.

What areas in long island are you sourcing deals? 

You will also want to take advantage of "free" asset protection features such as tenancy by the entireties.

At the top right, put "Send Tax Notices To" and put the redeeming party's name and contact information.If in Tuscaloosa County, you need to put at the top left something that says "Source of Title."

IMO Forbes is the best among financial/business news sources and the only financial periodical I subscribe to (15 years and counting).However, I do question their assessment and recommendations here. 

‘lifestyle’ business – ie simply intended to be run by and to provide an ongoing source of work and income for the proprietors, no clear vision for the long term future?

I should add that he is saying this because real estate is not our primary source of income, we still earn more from our day jobs.

Kitchen has had an active leak- source unknown- that has damaged most of the cabinets, master shower and tub are non-functional, AC unit needs to be replaced, garage door needs to be replaced.

It seems there are grey areas when it comes to wholesaling in California and as I educate myself to start my business I want to ensure my sources are good.

I spend much of my time traveling, and want to make a transition to travel less and to create an avenue of passive income that could eventually become my primary source.