You can do it, and if you want it bad enough you will find a way.Please don't wholesale unless you are REALLY good at finding win-win deals and understand how to do it right.

I think the other great lesson is to consider the terms of the purchase and sale every bit as much as the price, and in fact you can back up to the price and terms that can meet your goals as well as create a win for the other party to make the deal happen ... so long as you know what you want, are able to figure out what they want, and have the skills & creativity to engineer the transaction accordingly.

Play to win and help others to win also. 

Its a win/win situation.  

Every body wins!

Although I have a mountain of evidence such as bills, an email from the utility proving they never established service, pictures, nothing found during pest inspections, etc. and would win a case in court, it's still stress and hassle, not to mention a lot of time lost.

Win/WinI wouldn't say there are a surplus of SFR's, in fact I know a few property manager owners well, including aaims (the biggest here) and they have tenant waiting lists for days.

Purchase prize: $64,000Repair cost: $1,000 (minor repairs that came up during inspection and a new refrigerator)Market value: $69,000Down payment $16,000 (25%)Interest rate: 4.8%Closing costs: $2,000Taxes/annual: $100/month Insurance/annual: $35/monthPITI: $392/monthRent: $850/monthHOA: $130/monthVacancy 7%: $60/monthPM 8%: $70/monthExpenses: $260/monthNOI: $5,010COC: 10.46%Cap rate: 7.83%Thank you. 

You can find the details here on BP under events labeled with WIN (Winnebago Investor Network).  

Make sure its a win/win situation, it's hard with no flips under your belt to prove yourself, but don't give up.