I once for a short period had two agents working for me, nothing but problems, telephone calls from other brokers telling me to get my agents under control because they were saying things that were just wrong. 

I am hearing rent control.. lack of obsortion, platted vs non.each state and probably county has different rules. lawyer who specializes is good.Plus a very long talk with a local city planner that is free

If you know what you are doing it is less risky than most business ventures.

There is no rent control.  

@Dev HornI just posted some advice on a joint venture with the seller versus a we buy houses 70% of a or B minus cost offerThe deal was 190 ARV 30,000 in repairs free and clearIf you want to be a transaction engineer you better be able to deal with notes during joint ventures with sellersThe difference in these two offers the seller would have got 103,000 with the investor deal and 144000 with the joint ventureRule of thumb  I have in wholesaling sometimes is a ****** offer to the seller and they're all going to say no and you're wasting your timeWhen dealing with Minor rehabs in good locations, joint venture with the seller is the way to go

Remember you don't have to own a property to control it.

I train students all over the country and its just helpful for you to be licensed.Ohio, Florida, and California, it’s really important to hold a Real Estate Sales license doing seller financing.The Department of real estate estate is aggressive there in those states.Finding a real estate broker that you can work with isn’t easy, because they like to be able to control your work behavior, but there’s many places that will allow you to hold your shingle, meaning your license, and you have the regulations covered.2.

Remember you don't have to own a property to control it.

I've been following Mark Ferguson's ventures over at InvestFourMore which led me to BiggerPockets.  

Now there are two primary ways to wholesale a house, you can go and buy it yourself (not my favorite) or you can controll the property with a contract, have no money in the deal, and flip the contract (another form of the same activity).