I wonder if your cash flow estimation is perhaps overly optimistic. 

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

Estimating repair cost comes next, then you can be a wholesaler doing things the right way.....which isn't taught by gurus. 

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

Asking price $349,000My offer $330,000Appraisal came back at $358,000Monthly mortgage amount $2029.23  (includes property taxes currently set at $5987) Yearly Insurance (est) $110030 year loan, 15k down (closing costs an estimated 8k more) @ 4.14% APR One side Is rented out currently for $1700 and the other i could for maybe $1600-1800  ( its a little dated). 

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

And, are you confident in your ability to analyze a property and estimate rehab costs?  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookYou might consider Niche or Specialized Housing like student housing.