Hence as @Karen Rittenhouse reiterated, there's a distinct difference between 1. wholesaling a property that you own and 2. 

This is a general guideline but it will differ a little by area.A - new construction with amenities in best area of town, often where professionals and wealthy people liveB - good neighborhoods where middle income live, generally house will be older but well maintained and few subsidized properties C - lower income, mostly rentals, a lot of subsidized like section 8, etcD - dangerous, graffiti, drugs, boarded up propertiesYou won’t find all classes in all areas.

@Paul AguilarYou are getting some good advice starting out with just 6k is dangerous.

A $15/hr. guy, maybe 2 plus hours.But from my experience, having a bookkeeper on your payroll, unsupervised, is a little dangerous, particular if they the pay the bills.

The time and cost to get and maintain a license are not worth the savings, and even though you will have a license you will know just enough to be dangerous, especially with multifamily.

This is a grand opportunity to drive the price down with the seller if you're buying with the right fixit-man skill set -- you're not.If you do this, you're making a major commitment, the kind of thing so far out of a typical hands-off investor's comfort zone that it will take her/him into a danger zone.

If the electrical panel is substandard (dangerous) and they are the one who hard wired an extension cord in the attic while cutting through a major purlin holding up the roof, and the garage door doesn't open due to damage (when they hit it with the car?)

Just my 2 cents...and I'll fully admit I'm only educated enough on this topic to be dangerous...definitely not an attorney myself...but I haven't received an answer I'm comfortable with from anyone on it yet either. 

Can the rates increase at a dangerous rate since they aren't fixed?

I agree that a rent reduction goes into dangerous territory.