I'm OK as my home mortgage and rental mortgages are paid off.I started real estate investing in rentals in 1983, and the markets fortunately peaked in 1986, following a dozen years of dizzying rise.

We don't want to waste our time on showings to applicants who won't qualify so when they reach out to us via Zillow, Trulia, etc we follow up with an email telling them we are happy to give them a tour of the home, but also tell them to be aware of our requirements. 

Hi, i would like to get some general idea, how long should i keep reading books, forums, following ppls stories on how to wholesale and flip homes?

Unfortunately you just have to follow the lease.

Do we, or has anyone followed through with buying anyway?

Quick evaluations are as follows, lot rent x number of occupied lots x 30 or 40% expense ratio(depends on who pays utilities) x 12(to annualized)=net operating income (NOIthen you apply an appropriate cap rate.

Just follow the money.You answered your own question...cash flow. 

If you still need to find a lender then ask the following questions:Questions for Lenders When do you start using rental income to help me qualify?

The following Saturday, I picked up The Book On Real Estate Investing.

Follow this thread