So my wifes an agent,my old business is dead, I know a bit about RE,Figured I'd get my license.

We are under contract for 7 blocks of quadruplexes.28 units Contract sales price=$1,575,000Appraised value=$1,700,000 (real appraisal done 01/16)NOI=$156,000Average cap for area =7%current average rents per unit $650Comparable rents=$750/unitThis is a value play rather than for immediate cash flow which is not particularly impressive as COC return is in the 3% range per bigger pockets rental calculator.What do you think?

You can even go hybrid and buy & hold with a 5 year or so exit plan, which is generally an appreciation play.

Considering the neighborhood and size of the house - the two most important factors in the ultimate value of the house - and using comps and my knowledge of the local market, I figure out a "drop-dead" offer, a likely offer, and a "fire sale" offer.

Excellent books for someone just starting out A book is a good place to start, but without the hands on knowledge you are already dead in the water.  

My girlfriend and I are in college have been grinding away at our wholesale business to pay for college by the time we graduate (we are currently both undergrads), we are meeting with a very motivated seller today, we have no experience.... are also thinking about using seller financing not just wholesaling as our options.Question: our area is very dead in terms of REI it is a college town so there are a lot of rentals but almost no flippers, we have an extremely low population (we are in the north country in upstate new york) and no REI meetings within 60 miles.

So back to the beginning, it depends on what other factors are in play, how much houses cost in your market, what the return on the investment is, what the cash flow is and also how much experience you have. 

House sits on dead end street in decent neighborhood.  

The sub-market you're in will play a determining role in what strategy will work.

But remember, these are college students and they might not want to live in a residential neighborhood full of couples with children playing everywhere and the home owners might not want the college kids in the neighborhood either!