The main components to analyzing any investment are income and expenses. 

A fundamental component of being a successful real estate wholesaler is understanding the laws governing the conduct of real estate agents and the laws that govern your conduct as an unlicensed individual.Do your homework.

is a huge component, as well.

Probably a faster cash offer was a component as well. 

I use 10% until I have the property inspected to determine the current condition of all major components and appliances.  

The problem with keeping the condo in my opinion is that you are losing money every month even with a perfect tenant so any vacancy periods or a tenant whom does not pay and take months to evict would be detrimental to you and is a huge risk.Also if you have not done so already I would get term insurance on yourself because your wife would not be able to afford your home if you were to die tomorrow.

So I am preparing to started a business in wholesaling, yay me :), and one of the major components I have been tinkering with is how to ensure what I have on my hands is an actual deal.

Is it just based on networking or do they include an educational component also?

.—(1) The landlord at all times during the tenancy shall:(a) Comply with the requirements of applicable building, housing, and health codes; or(b) Where there are no applicable building, housing, or health codes, maintain the roofs, windows, doors, floors, steps, porches, exterior walls, foundations, and all other structural components in good repair and capable of resisting normal forces and loads and the plumbing in reasonable working condition.

The mortgage insurance component will also go away once you get to 20% equity.P.S.