All of which is a normal day in the world of real estate investing.If you're going to do syndication, multiply that amount of $ "flushed" x 10.I'm not here but bust your bubble: you seem like a spirited young man ready to make your way in the world, and that's good.

Potential for mid term rentals in Augusta seems good. 

Seems like Chattanooga and Knoxville are more likely to appreciate with value and rents but Clarksville and Johnson City may cashflow better.

It seems like you're in a great spot and you have options. 

If you think higher (which seems to make sense), you are electing to defer taxes now when rates are low so that you can pay more tax later when taxes are higher. 

Now I'm fairly new to wholesaling so I'm not exactly sure how to go about this process involving homes with mortgages but it doesn't seem like it would be a good deal.

Sometimes it seems as though brokers are not really interested in you unless or until you have your license.

The buyer behavior described by the OP does not seem surprising at all. 

It appears the units are below market, however with some cosmetic repairs and perhaps some capex's I feel I could increase the rent by at minimum (based on local comps) 68%.I would offer 85% of list and estimated $20,000 in repairs/upgrades (this is probably a generous estimate - the property appears to be in good shape, basically needs a face lift).With all these figures, including the 50% rule, financing with 20% down @ 3.5%, I come out to a profit of $262 per unit and a cash-on-cash return of 9.53%.So, does this seems reasonable?

The reason why I am asking is because I'm looking at fourplexs in my area and it seems the average price is $ 200,000.