Fredy congrats on taking the first step towards real estate investing!

@Olivia Umoren, first let me congratulate you on taking the step towards recognizing that RE is a GR8 investment if done wisely. 

I feel the answers to these questions will provide solid ground for any newbie who is thinking "what should my next steps be".1) How much should a new flipper expect to come out of pocket for when doing first couple of flips?

It's 2018... days of damaged roofs due to solar installs are long gone (unless you have a ceramic tile roof or something that easily breaks when stepped on)You can easily reduce your power bill down to just the utility's basic charge, typically 5-10 bucks per month.

First steps and such

You might need to break it into two steps to get the numbers you are looking for.

The rent does not cover the mortgage, not even close, so subject to isn’t in question.Without much equity I’m assuming I should not pursue and tread lightly w/o further damaging the position the landlord is in?

I've never pursued wholesaling, but with properties on the MLS at higher price points, I am interested in working with more wholesalers. 

The solution might even be in your next step, I have not used Quickbooks for real estate or business but I know that on your tax return each property has it's own column with its income and expenses detailed for the year and then they are all combined later into a single line item. 

From there the next step is really deciding what your long term goals are regarding real estate and then finding a deal that makes sense and moves you toward those goals.