If this is true, I believe they will not appreciate with the SFR market at large, but rather appreciation will be limited by the ability to increase rent.

Starting small and scaling up is a tried-and-true path, and this community is filled with people who’ve walked that road and are eager to share their experiences.Feel free to ask questions, share your wins (and challenges), and tap into the collective knowledge here.

In fact many properties being shopped around by wholesalers are actually just expired MLS listings (properties that failed to sell on the MLS) or active MLS listings under contract by a wholesaler. 

Quote from @JD Martin: Those things are true but I'm always puzzled by these kinds of posts.

I would shop around for one that can help you here.

In many cases, it takes a few years to really start seeing any appreciable cash flow, but it is the relationships we make, the learning and overcoming challenges and obstacles every day that is the true rewards in this business.

In the June 2024 update, I said “All indications are that it will get worse before it will get better”, and this has proven to be true.

For the first part of your question even if you were working with a realtor, I don't personally know many that have a true pulse on rehab costs and I wouldn't make any investment decisions based on their rehab cost projections.My suggestion would be to study how to evaluate the Big 6 rehab costs: roof, siding, windows, HVAC, electrical, and plumbing. 

We use Hospitable as our PMS for automated messages and calendar syncing, PriceLabs for dynamic pricing and market analysis, Minut for noise monitoring, Schlage Encode locks, Ring cameras, and the Google suite for shopping spreadsheets and owner monthly invoices.

But to sum it all up my new jersey properties where slightly out preformed by my out of state properties and it took longer for me to really be able to enjoy true cashflow from my NJ properties.