Me and my wife are creating our own llc to put it under and want to start investing but aren't quite sure where to begin.

Thanks for the introduction.Be sure to check out the BiggerPockets PodcastsThere are quite a few episodes dedicated to wholesaling that you will love!

I ended up helping the agent who didn't know what to do, and getting the original seller $3,500 from the bank but it still jacked with his credit quite a bit before we got it resolved.  

My ultimate goal is to have a portfolio that has enough cash flow where my wife or I could quit our day jobs (who are we kidding, it will most likely be my wife).My dilemma/thoughts: obviously the property or two that I invest in will have to cash flow more than the $$ I will have to pay on the borrowed equity (roughly $130/mo).

You're certainly guru sold.Buy and hold forever, do you understand the concept of functional obsolescence neighborhood maturity, external obsolescence or depreciation, physical depletion and obsolescence?

Not really sure duping people into reading your pitch is a productive idea for mailers, but I'm pretty sure it's not on forum like this....it's pretty easy to get people to quit taking you serious.

Details are current hard money (not quite full hard money terms) is $53k, should appraise around $95k plus.

I'm quite busy as well with my work and all the personal hobbies/things I've gotten myself into (hah), I find buy & hold can be managed quite well if you have the right systems in place.There are a few BP Podcaststhat go over investing while working a full-time job.

Location, sizes, styles, acreage, condition, views, external factors (busy roads, the dump, lake view, golf course, etc).

I am figuring 58K 'All In' The current rent is $700, but I feel it could easily be $850 or so, but I am basing my figures on $800.The house has had new roof, windows, siding, water heater, and flooring in the last few years.My rough figure are;8800 Operating Income$3800 Expenses (only about 40% since all the recent upgrades)$5000 NOI - $4000 Debt Service= $1000 Cash FlowNot quite $100 'per door', but I would also be building equity at about $100 a month, along with likely appreciation of $100 - $150 month.