Don't get your emotions involved and stay focused on your goal.  

If you think that you can handle the risk, it might be a path forward.

SFRs normally do have higher risk for a capx and/or vacancy event to create 0 or negative returns for the year.

You have about 7 days to do inspections, get bids, etc. and should the contract allow for contingencies, this is your time to get out, but risk losing EMD (This is where I may be wrong)4.

The thing that pops immediately into my head, and will be what you likely run into the most, is that it will sound like you're renting to essentially AirBnB their place.Why would they let you do that, and how would the lease be structured in a non-onerous way where the owner lets you select the sub-leaser w/o direct involvement from themselves?

The group has a website at:  http://dfwreinetwork.com/Just about everyone involved is active here on BP.  

I have got the bid on the property with the repairs required, but wanted to check in this forums on how to select the contractor based on the bids, Is it purely based on Price , or ReferralsThis would be the first time i would be working with them @Kyle Gray Thank you for the extensive reply , how do i get involved in the selection of items as the contractor is going to do the selection for us on whats required based on the bid submitted, Please let me know how i can get involved in the selectionThank you @J Scott@James Wise  i will check with some GCsThank you all 

Although there are tons of risks and problems associated with them, many which are just general issues in real estate, don't be too fearful.

The other part of wholesaling that is a possible red flag is Equity Stripping, AKA Illegal Flipping, this was heavily regulated till a few years ago by lenders, especially M.I. companies, they have relaxed the rules, but was a problem pre and post crash. seeing the increase in this activity seems eerily familiar,  like 2007 all over again. just be careful especially with your license, Disclose Early, Often, and in Writing, My license is too valuable to me to be involved in this type of transaction, so i steer clear. if my entity is on the contract, I am the one closing. period. 

Now that I'm between jobs, I'm becoming more involved in my properties.