I feel like this part of the whole equation is where I lack confidence to make offers.

This will equate to higher tenant turnover.

Wholesaler exist because they bring some value into the equation, if they dont then there wont be any wholesaler.

Don't discount the amount time you will have to spend in managing all of this if the tenant is not right and put that into the equation.  

And you use the ARV time .7 minus repair costs equation?

Also, I think there are enough moving pieces in your situation (your income, the income that is being brought into the picture by your wife, the connected-but-disconnected nature of your brother in the equation, etc.) that it's worth talking directly to an attorney and/or tax professional - given the money and complexity involved, likely best to get the *right* answer rather than a cheap answer from BP.

Where would you eventually like to end up and how would Portland, Austin, or somewhere else make sense in this equation? 

After reading further it seems 50% rule equates to 2% in order to cash flow and around 1% to break even.

If the sponsor does not have the experience to manage the property and deal with being a landlord then we will have an issue no matter how strong the property is today.  3) Credit: It goes without saying that your personal credit is part of the equation and your personal guarantee is important.  

That's why I think it's important for us all to keep learning more on that part of the equation.