@Jay Orlauski,Cheers, no problem.One big take-away for me was also that the owners of the real estate stood to make a crap ton more than the sub-letters, overall.And also that wholesaling isn't really the best low-barrier-to-entry way to get into REI any more.

Here is the deal, we sent out direct mail and got a ton of leads, this is one.House: Duplex 3 bedrooms 1 bathroom downstairs/1 bedroom 1 bathroom upstairs, 2 stall detached garage, owner states not a lot of repairs needed (maybe $2,000 total)Current Rent: $1,225 totalHouse assessed at $96,000Current owner owes $52,000Wholesale offer (from our formula that would make sense for us to buy it wholesale): $53,000 cash - owner declined (too low)If we keep it to rent out do we get a hard or private money loan to purchase for a higher cash offer (we think he would take $70,000) and then take it to the bank after a certain amount of time to get a conventional loan because we will have almost 30% equity in it when we buy it?

Of course tenants can lose their job and unexpected life events happen even we we did our job right.Property management fees vary from low flat fee to 10%.  

Low taxes great place for newbies to start.

Low priced homes in small populated zip codes.

It's good to know that there's a supportive community out there for new and seasoned investors.

Martin is speaking on a great topic :-) Andrew, I've heard a lot of great things about David's meetups, so driving up from San Francisco to share about a low-capital way to get into the market.

It's important that you are working with lenders who require little or no value seasoning so that you can refinance cash out up to 75% of fair market value after tenant is placed.  

@Shelby Williams I imagine your student loans are at a very low interest rate.

I spoke with the head of Cobb County,  and was told I had a choice to zone back to R-20 or LRO (Low Rise Office).