If you increased the down payment, would the seller be ok with it as previously agreed?

They'll offer all sorts of "fixes" to increase your property value, but likely don't have the expertise to do them. 

I offer to lease no vacancy 5 years but ill pay 600 a month.. then I turn around and market it as 1,000 a month.That house then turns into a $400 a month cash flow...Is it truly that simple???  

You don't need a license if you only manage for one owner as an employee.When it's family, keep it simple but business like.

In general, it is harder to secure props that flow in these areas because they tend to be better taken care of, leaving less room for a well-done cost-effective rehab to increase value while keeping the all-in price below market.

Seems like a very intriguing way of managing property and benefitting from increase NOI and ultimately property value.I am looking at a 3 family property that needs a ton of work (perhaps $75-100K, although I haven't done a deep dive on pricing yet).

The home you live in is NOT an investment...it is however your biggest cost.This is a simple math problem.If you put money in a property and leave it there, it is a negative number = Your cashIf you get money out of a project, it is a positive number = your profit or cash flowIf someone else puts the money in a project, it doesn't count as positive or negative = leveraged funds...unless, you have to pay for those funds = loan interest.However, if someone else pays for those "interest costs", they don't count as positive or negative = Cash flowJust apply all the cash moving in and out of your deal(s) to one of the above definitions, add (or subtract) all the numbers as indicated above, and you will see either a total that is positive...or negative.If it's positive, you are making money.  

Hi Brett,I read your book of Simple wholesaling. it was a good short and sweet description. thanks for your honest inputs and tips for the new Investors.Are you familiar with the market in MA by any chance?

@Daniel Patterson I had to make it real simple or I would get paralysis by analysis.

As a rank amateur, this should be a simple question for all you pros.