Calculate your bottom line using 70% of ARV (After Repair Value).Do not spend more than (.7*ARV)-RC (Repair Costs)Example: House is appraised at $100,000 *if repairs are made*...7*100k = 70k.Repair costs are expected to be $25k. 70k-25k = $45,000 (DO NOT BUY THE HOUSE IF IT IS OVER $45k)Take another look at the ‘going rate’ of rent in your area, make sure your cash flow is enough to cover ALL costs and include a buffer for taxes and unexpected repairs.Look at the property yourself - try to eliminate assumptions.Have a trusted professional assess and confirm info about repairs that may have been overlooked.Look at how much work you can do on your own and compare it with contractor rates to complete all repairs.

If you just say can I wholesale a lot of real estate professionals do not understand what you are really saying and will shut your question down by saying NO as a first reaction with out thinking. 

Since you have family in the area, I would recommend you plan a trip here and schedule some time with local professionals to put together your local team.

I know the area, it is a hot spot for grad students and young professionals (as myself), with a few large developments coming to area as well.

Best to go with a professional.

On another forum, someone argued that buying just one property was a bad idea, stating that it will "drain me" and that you need multiple properties to be successful.

I will send more professional black and white letters or something with company logo if you have one. 

Professional Home Buyers (Tony Javier), PropertyRx (Ben Sherman), and Friendly Home Buyers (Jeremiah Johnson).

Their entire business model surrounds purchasing land inexpensively.We have found that, in the time it takes to develop an urban tract of land, you could have flipped 20+ properties to professional developers and generated much more equity for your self without the risk associated with development.Hope this helps and I wish you the best.

In this time span I am doing flips and saving from my current professional career.In this 1-2 year timeline we would we would meet on a consistent basis and develop a solid plan of action to acquire these syndication deals.At this point I would like to connect with people and see if our interests align and if we could work well together.I currently have interest from several people that have either an extensive finance background or have many properties in their portfolio already.I currently have no deals in my portfolio but what I bring to the table is experience in building websites, marketing (specifically search engine optimization), good financial understanding, and a great ambition to succeed in real estate.If this is something that interests you please message me for more information or to ask any questions.