I don't see any harm in having one, I tend to think it all falls under the "EXERCISE COMMON SENSE" rule, but these days common sense is very uncommon. 

Wholesalers play a valuable role also.

I used to pay 5-7k to have houses taken down now I have a guy who moves the house give me 5-7k and takes the house out in the county and puts it on a lot and rehabs it himself.There is no "perfect" formula for your question there are so many factors that could play a major role in your deal.

Howdy, Being new I have a lot to learn but i want to walk through an exercise to analyze a deal that with my numbers do have a very good return but being human I'm sure i will make mistakes.Property - 2/1 single family house for 50k requiring about 5k in repairs (Definitely paint and there is no fridge and some of the floor is badly stained) that received a new roof in July 2014.

In 2013, Detroit filed the largest municipal bankruptcy case in U.S. history.[1][2] On December 11, 2014, it successfully exited bankruptcy.[3]Contents [hide] 1 Contributors to decline 1.1 Role of the automobile industry1.2 Rise of the suburbs1.3 1950s job losses1.4 1950s to 1960s freeway construction1.5 Detroit riots 1.5.1 Economic and social fallout of the 1967 riots1.6 1970s and 1980s2 Problems 2.1 Population decline2.2 Unemployment2.3 Poverty2.4 Urban decay2.5 Crime2.6 City finances3 See also4 References5 External linksContributors to decline[edit]See also: Rust BeltThe deindustrialization of Detroit has been a major factor in the population decline of the city.[4]Role of the automobile industry[edit]"Detroit rose and fell with the automobile industry

He is a great role model!

Then sell it on a lease option [about only 5% of the tenant/buyers ever actually exercise their option to purchase].  

My initial direction is to pursue a start in private equity or other institutional investing in an acquisitions role, or possibly asset management. 

You can gain valuable knowledge in either role, but neither will provide you all you need to succeed as an investor.

She needs to proactive, chase expired listings, cold call, mailers to specific farm areas, work her network...if you are providing her "leads", and she isn't being proactive herself, maybe you should considered a new role for her...just my opinion !