You realize that almost 70% of Americans claim the standard deduction and that with increase now by it being raised

I already quiet on property using American Title Company in Detroit.

The bad news is that you will be paying ordinary income taxes (which are higher).

@Blake Brose I've currently done a few cash out refinances with Great American Bank.

In my opinion, There is no tax incentive doing this unless your expenses exceed your ORDINARY income from managment side.

Would the rental property income be taxed at a different rate than a W2 ordinary income rate? 

Wholesaling is subject to ordinary income tax rates.

Wholesaling is ordinary income and there are no tax preferential treatment for wholesale income.Federal income tax rates for 2017 ranged from 10% to 39.6% Federal Income tax rates for 2018 ranges from 10% to 37%Wholesale income is also subject to self-employment tax of 15.3%(If you have a W-2 job that makes over the social security wage base - you would only be paying 2.9% in self-employment tax instead of 15.3%)You would also be subject to state income taxesUtah tax rate is 5%(flat)You have to note that you should be entitled to expenses to offset the income you get from the assignment fee.There are also strategies involved to limit your exposure to self-employment tax.If you are uncomfortable doing your own taxes - you may want to reach out to an accountant who can help you with this.

Credit Karma is wrong, consumers accurately state their total usable assets less than 5% of the time, and the majority of Americans do not understand that if they get a 1099 then they aren't an employee. 

It looks like ordinary cap rates for apartments runs around 4-5% so you're no too far from "normal" but the idea is to do better than normal if you really want an investment that is leveraged but valuable.