Everyone has great suggestions...I would also suggest "local awareness"...If you are considering a rental strategy, use somethiing like www.rentometer.com, enter the sizes and address and see what THAT neighborhood is renting for.The other thing to do is establish a relationship with an investor friendly Realtor that can run a comparative market analysis for you to establish a resale value.

I compared it to three other units I could find that sold or were selling in a similar condition based on price per sqft.

Hi ,    I have tried your wholesaling calculator for rental.PFA the screenshots.The thing is that using the formula given in your website to calculate maximum purchase price i am getting a totaly different answer compared to what i am getting using the calculator.Which is correct?

I have read to be careful with companies that quote really low compared to other companies.

According to some folks it is like comparing a dual-agency to employ same lawyer representing opposing sides in a court.This can be confusing at larger brokerage which have more agents.

Either they really need it and will not give back down payments because they can't afford to, or they realize they've found a sucker and can't wait to cash in on your ignorance.I'd say chalk it up to a win, as you learned more about doing proper due diligence before signing the dotted line, and overall this lesson was extremely cheap compared to the price that others have paid when breaking into real estate.Best of luck in the future!

@James Wise thanks for commenting if you don't mind could you tell me the ways being licensed I could get paid compared to just wholesaling? 

I'm in the process of developing my business plan for the purpose of finding and acquiring buy and hold single family (possibly multi family), for the purposes of building a passive income stream in and around Houston...

I also do lower income rentals, so the turnover costs can be a bit prohibitive compared to the value of the house and I have to screen through a bunch of applicants and as a result it can take up to a month for me to rent one.  

I agree whit Jason hawk and what neighborhood it may look good on paper have you compare a minimum of 10 houses in the same neighborhood it's Easy to do comps just go on line and  start looking !