But just hating on wholesaling in a wholesaling forum is so unbelievably pointless. its not dead per se  but it is starting to be regulated as it should.. oregon just passed their version. where to wholesale you now need a license and over site by the RE commission.. along with criminal back ground and a BOND.. and as we know not everyone can pass either of those with the bond being the tough one if you have bad credit your not getting a bond.

It gives you the flexibility kind of like a credit card that allows you to borrow a certain limit and withdraw funds as needed.

Credit cards have the same limitation on the amount you can borrow and will likely end up costing more than private lenders.

Month to month so you can get bad tenants out in 60 days.  

At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.

The most important rule is to have the cash flow of the new property be able to pay all its expenses, mortgage, AND the line of credit back.

I paid off the loan to cure the DOS.There are a couple of "subto's gone bad" over in the creative finance forum. 

It's in a C+ area which isn't bad at all.

It takes some time and effort to get a license but it's not too bad.

While @Phillip Austin mentioned Raleigh is a higher returns its just very much a appreciation market, you will not find rentals that cashflow, so depending on your goals its a good or bad market.