(This strategy is called "assigning" since you personally never close on the property)The formula most wholesalers (assignors) use isMax offer=After Repair Value (ARV) X 70% - repair costs - assignment fee.Some other strategies to read up on are Sub 2 (subject 2), wraparound mortgages, and true wholesaling with a double close.Good luck and keep reading and asking questions here on BP!

Hilarious and very true as I have money to invest but no longer am working a job that can generate working capital (just covering my bills as I focus on REI).

Assuming your $20K/year is a good estimate for the true cash flow, I'd hope you don't need much more than $200K.

Is this true at all?

It is so true that bandit signs can do the job, but more times than not, they create more problems.

Simple as that.Very true and to add, look up public records of all cash closings, there you will find proven buyers.

If you are a true Emiratee, you receive free house, car etc.

You probably want to factor in renovation or at least minor repair costs and 10% selling costs above your profit.Typically that is true but in this case, no agent fees involved as the buyer is the current lessee.

I don't know if this is true or not (certainly hasn't been in the past), but he's a long-time investor and knows the ropes, so it's something to keep in mind.

I know that anyone can be an "inspector" and was wondering if this is also true with appraisals.