If you spend some time on the BP forums, podcasts and books on wholesaling, you'll find plenty of discussion and info about it.

Beware that there are plenty of crooks on the Internet making dollars from emotional people, selling stuff you do not really need.  

My understanding is that 'sellers' are the challenge, and potential 'buyers,' are far more plentiful...

There are plenty of meetup groups in SF and down here on the Peninsula - you should check them out!

There are plenty of mentions of Aledo in my listing.

Make sure there is plenty of ventilation (fans, AC).

Marcel, there are plenty of hard money lenders out there that will provide bridge loans and help you get into 30 year mortgages.

There are plenty of dying or stagnant small towns in America that, if you invest in you may never be able to get that money back out again.

I guess 8% is the magic number :-)I was afraid of passing on a perfectly good deal when using 10%, but I agree - if I could use 10% across the board then I would know it was a home run giving me plenty of room to adjust later. 

For example, in Dundalk (Baltimore County), there are plenty of properties for around $100K.