You may want to think about working with a realtor or a really good attorney to make sure you are set up correctly to start off in the best possible situation. 

Yes, wholesaling is tough to break into and to do it correctly is to have a good foundation of knowledge on the subject. 

The current property would be viewed as being owned by me outright with no mortgage since there would be no lien holder on the title, correct?

Look for property for sale with the correct zoning or that you can get a variance4.  

A "pre-approval" sounds like a "consumer" mortgage rather than a commercial loan for investment real estate, is that correct?

Do you think that could lead to a price correction or just a plateau?

Eichholtz’s initial research showed that real housing prices (corrected for consumer price inflation) gradually changed over time, but were fairly equal in 1973 compared to prices in 1628."

You are correct, no HOA and my plan is for no TV, just internet, as you noted.

I don't know that there is a much bigger vetting process other than if they can pay for leads, but correct me if I am wrong.I have been on here for ten years and sourced hundreds of leads without ever asking for a single thing because all I do is show up and answer questions and add value.

Separate checking accounts not required, but you need to maintain separate books and records.The TREC requirement is correct, but odds of enforcement seem low.