The old rule of thumb is that you want at least 30% equity to give you room for repairs, holding costs, sales costs while still earning a profit.

@Darryl JacksonHow much you need can depend on many factors , the purchase price of the home , the rehab costs etc.Also if you are going to pay all cash or leverage ( hard money or private money loans etc ) If you don’t own your own home I’d suggest doing a live in flip or house hack as you can take advantage of low money down loans like an FHA loan for 3.5%Many people have used this as a way to start out and gain equity that they then use for other deals .It’s possible to do deals without your own money if you do a joint venture type deal but could be hard to find someone to partner without experience, might have to give up more than half the profit but still better than no deal .

That means you would get to take 50% of the profit (up to $500k since you're married) - tax free!! 

For my situation, in my market, my business partner and I do about 5-7 flips per year and target 20-25% profit margin, which we then split 50/50 between ourselves. 

The setup and maintenance costs will be prohibitive and eat up any potential differential in returns that you may be able to generate in real estate as opposed to other IRA investments.

I'm finally serious about getting my feet wet wholesaling in my state of Washington after reading tons of books and listening to many BP podcasts on the subject.I've been working on a website to help with lead generations and I was going to create a page stating "We Pay Cash for Leads That Close!"

But, you'll also receive a lumps profit once the syndicator sells the property, which you can in turn reinvest into more syndications.I like this strategy because it is 100% passive. 

But don't concede control in the process of doing that...DO NOT GIVE A RENT DISCOUNT...... this will only give them leverage to try and squeeze in other things that may generate a reduction in rent.

Take the profits and get a nice house for your family.

Are there any opportunities that people do with raw land in rural parts of the town other than farming that has been profitable without spending a lot of money upfront?