As a general contractor, real estate broker, investor and property manager for the past 40 years I can tell you first hand that rehab and repair projects prove to be the most costly and have even been known to break the bank.There are so many unknowns and uncontrolled variables with rehab projects.

This niche (and supply) is just not large enough for Wall St. who has to do everything on a grand scale due to the amount of money involved.I asked what I did above not because the local guru planted thoughts in my head, rather, its something I've been meaning to ask for a while as I start setting up my business.There are so many books out there that make this seem like a get rich quick scheme but my experience tells me otherwise and I wanted to hear from people who are actually doing it.From the outside looking in, it appears there are two distinct types of wholesalers: 1.

The PM says she'll manage the house manager, but it just sounds full of variables that lead to not getting rents.There are lots of investors in Atlanta here on BP.  

We had a flood from the supply line to the toilet and our floating bamboo floor was trashed.

The few multi's that hit the market sell very quickly and for a premium due to the supply and demand problem of them.

NOI/sales price =Cap rate.The NOI is the NOI no matter what.The only variable is the purchase price.If NOI is $12,000 then at a 19% cap rate the market is only willing to pay $63,158.If NOI is $12,000 then at a 9% cap rate the market is willing to pay $133,333 for the EXACT same possible NOI. 

I seem to learn something new everyday from this sites endless supply of knowledge. 

He knew what pockets of Houston were hot sellers, what pockets had a lot of buildup and better to avoid, which areas had more competition, which areas had more equity, which areas had new home supply scheduled to come in.  

Also to your point of the day care and company car, I think that's valid and I would add that it it might also look legally like a home office - she still maintains part of the house for her personal use (to store cleaning supplies and linens)., Interestingly enough my mother's best friend runs a day care out of her personal apartment in NYC.

While it's always about supply and demand, it's also about the prospects of an area.