Get some Tony Robbins in your life...I spent six figures on seminars when I was learning this game and the money I spent on getting my head on straight was WAY more important than learning the mechanics of doing deals.I didnt click the link, but your other video tour biz has been done before, many times. 

.#1 Dead bodies,#2 Pets any kind , followed by goats#3 Car Mechanics#4 Hoarders and Dumpster live in's.#5 Fire So no wonder I don't rent to people with pets....  

@Michael Maloney if you are a long term investor, you shouldnt worry a ton about a "great deal" but that the deal is mechanically sound, youre not buying a money pit, and focus on location.

I'm trying to understand the additional cost involved, here's what I've got so far:FinancingHolding CostsMarketing/Sales/CommissionAm I right in understand that permits (thus the $230,000 shown) would only cover mechanical, plumbing, structural and electrical work?

No.So you have a computer background.Well I have a Mechanical Aerospace, math... background.. does this mean I am going to make a mold out of clay heat it up,  and poor molten iron in the mold to create the housing of a alternator when I build my own car?...

You'll notice more in that area because you're already spending time there, and it will also be easier to pursue properties there by talking to the neighbors, checking records in town hall, etc.I'm active in the RIREIG group which meets monthly in Warwick, and we've had a number of real estate focused attorneys speak at our group over the years, all of whom are familiar with assigning contracts or double closings (the two main mechanisms of wholesaling).Attorneys who come to mind for having spoken recently and focusing on real estate are Adam Rose in North Providence and Melissa D'Ellena in East Greenwich but I think we even have a few attorneys who are members of the group but haven't presented yet.Other than that it sounds like you have a great story so far and are off to a very good start with those BP books/resources.If you have any other questions please let us know, and welcome to Bigger Pockets!

I work full time as a county mechanic and currently mortgage my home.

Currently, the penalties for cancelling a guest without good cause (like an urgent repair/mechanical issue) involve stripping you of any Superhost/Premier Partner status you may have (for a year, with AirBNB - which is a Big Deal to me) and dinging your search ranking.

I am always shocked at how helpless some people are at anything mechanical.

Not to say real estate is quite as dramatic as consumer goods, but you see the flips that sit on the market because they are over improved and asking too much, or the design doesn't cater to the typical buyer in that neighborhood, or the flipper only handled aesthetics and didn't address major structural/mechanical needs because they didn't know those issues would kill the deal on inspection.You also have to realize that all these "strategies" have been around forever.