So I purchased a property in Pawtucket, RI with a Fannie Mae (and home ready) conventional loan at 5% of the purchase price + closing costs and no sellers assist so I got in for like 20K (the property was turn-key new mechanicals/ roof etc. and I wont have to do any major rehab on the property in the next 5 years hopefully.) 

It just seems that after taking the equity and then acquiring a mortgage payment, there wont be much left as far as profit. we will be managing, rehabbing, and assuming this job without profits.

I'm assuming that lenders wont want to extend a business line of credit without rental history to back it up?

A few months wont change anything on that front.

There are a ton of active wholesaling groups, join a Facebook page and you wont have any problem getting connected with someone.

I wont speak in absolutes as every situation is different but when a lender calls a note due that resulted in a violation of the agreement, its not a good thing

They survived 2008, and they know the housing boom wont last forever so they are trying to make money while they can.

I would say do your own due diligence as well but you wont have any problems with this company.

That home eventually sold in 4 days $15k over asking for double our initial cost & they didn't mind the neutral carpet.If the tenants have pets it's definitely NOT a good alternative BUT we've also seen some nice hardwood flooring completely destroyed by cats/dogs. 

The composite wont look much different other than being a little dirty.