Hi All - I am still relatively new to the BP world and trying to get started on my first investment property.

We are transitioning from the Industrial Age employee business model to the Information Age entrepreneur, which has its own skill-set requirements that just aren't taught in school.

@Devon Martin Hey Devon, another approach is to buy something that is relatively stable, meaning that it has tenants and maybe ONE vacant unit for you to move into. 

Zillow, realtor.com, and your agent's MLS portal will all show you recently sold houses.Make adjustments based on size, condition, age, and any other important factors.

From my understanding, the various phases of a wholesale deal include the following: A call is received from home owner as a result of marketing efforts Provide a range that we (wholesaler) would be willing to offerReview property and required renovations to determine selling price to market to buyers listGet contract signed by home ownerRecord contract with countyMarket property to established buyer listOnce buyer is interested complete the assignment contactReceive deposit from buyer and put in escrow with title companySet closing date with title company for double close Did I miss anything related to the process?

What is the age of the owner?

I have seen similar sized / aged properties command different rents based on how they are furnished and presented.

Offer assumes all material facts related to defects or affecting valuation about the properties have been disclosed to seller.Contingent to approval of inspection report of properties. • Contingent upon appraisal of properties equalling or exceeding purchase priceContingent up on securing of financing by buyer. 

My wife is uneasy with these types of loans due to the balloon aspect, but I'm generally OK with them, as I keep a solid credit score, good income, ample reserves, and have good relations with many conventional and private lenders.

Many of us don’t catch on until later on when we recognize what we could have done if we had started at your age.