Depending on how hot the market you are targeting is you will need to be prepared to move quickly when a property you like comes on the market.

I understand that there's a bid process with the general contracter for a 203K and I wonder if that would cause issues with the wholesaler's timing with the current homeowner in terms of how quickly they are commited to close by? 

@James Peterson Welcome.Some quick pointers 1) it seriouly helps to have a profile picture 2) add in your profile your city, there are tons of people on here from your area probably and it will help them connect with you 3) what are you looking to learn about?

If rentals, I would come a little further into Frederick where there is much more economic stability, better tenants and a promising growth. 

Quick numbers: the house is on a .09 acre lot, the house is already 2156 square feet, and the property is an R6 which the floor area ratio states the square footage of the house can only be 55% of the lot (.09 acres).

One thing I noticed quickly was as conversations went on people would offer a business card.

John, I'll send you a quick PM to touch base.

Or a potential flip profit of around 25k-30k.My plan is to save money over the next year while this lease is in place, then get in there and renovate it as quick as possible next summer. 

This house seems like it was one what was put together quickly and not very good quality so things are breaking pretty regularly.

The IRS has just issued updated guidance on OZ's including the draft self-certification form (Form 8996).From a quick high level glance at the newly issued 74 page draft regulations it does appear that only capital gains will qualify (which confirms the position our team held) Our real estate team will be diving into this over the weekend and next week in more detail.