Rental arbitrage uses something called asymmetric risk reward because you're not leveraged.All personal notions aside I'm just curious what your objective response is to these questions. 

I recently read a description of wholesaling to him, and he immediately had objections.

From the sound of it, your first objective is to build capital and network.

So if they end up closing a handful of loans before yours, they may run out of funds until they start collecting payments/payoffs.Last bit of advice I would give; if you don't have time, very unique deal or want to shop it around - use a broker.

This may differ based on your geographic location, but under normal circumstances, taking pictures of conditions, objects, violations, and so on are okay as long as they do not depict anything personal in nature.In fact, from the details of your post, it appears you did a great job.

Purchase price: $150,000 Cash invested: $1 Hand crafted a unique deal with a USDA loan and seller financing to get into a house without spending a dime.

That means it is not objective at all.

It was a unique 2 family home in the town/area that we wanted to live in.

Whatever money you ended up with after an exchange will be taxable, which defeats the purpose of an exchange.Also, it's not necessarily a good long-term objective to increase cash flow by getting rid of mortgages, unless they have bad terms.

It is not only money, but also emotions and the uniqueness of each property that makes real estate different.