We are sitting on 19 units right now and yes the headaches will drive some people out of the game.

Account ClosedThe 30% you deduct represents 15-25% profit for flipper1% purchase costs3% sales costs3% holding costs3% “fudge factor” for unforeseens (many run this at 5%)Obviously, in higher ARV areas, there is more wiggle room for MAP profit margin at the discretion of the flipper...Then you hafta subtract even more for the wholesaler’s fee!

Welcome @Eric Schuster My answer to your question about avoiding areas where there's a high concentration of rental properties is: It depends.There are a lot of factors that can impact how many rentals are available at any given time and it can be hard (for me, at least) to know what "a lot of rentals" is without looking at trends (time series) over time. 

Looks like some days they're charging up to three hours of driving time.

It does a good job showing all the action your numbers receive... it can also integrate with podio for free (using the globiflow extension) and every time someone calls your number podio will automatically update and it can tag it as an absentee owner list or driving for dollars list, etc.

I think it is the eww factor that you have to get over.

Maybe your plan factors this in.Before making an offer, I would have my lawyer check the bylaws.I hope this works out for you. 

There are many factors to consider when transitioning from "smoking allowed" to "smoking prohibited", the biggest one being the human element. 

@JT Crownover  the reason for my list was an exercise in where one can buy houses under 10k in the US and those are the easiest for someone who has limited backing or capital can actually wholesaleit does come down to the greater fool theory though.. and I am certainly aware of West Jackson I had my Plane Hangered at Hawkins field and would drive through W Jac to get to it ... :)  felt odd driving through a neighborhood that I could buy a house for the same price it would cost me to fill my tanks with Avgas ..

There are a lot of other pros and cons but I think that they can typically be a great start if you are willing to put up with the hassle factor.