Whatever you decide make sure its something you're comfortable with.

I found BP about 20 months ago while looking into real estate and looking for something I felt comfortable with and hopefully be more flexible than the 9 to 5 schedule, even being able to work from home.I am currently living in NW Dallas County  and I was born and raised in the city of Dallas.  

Also have our property manager do tours of the properties and take videos on the more run down stuff so we can get an idea of how it's going.I would also suggest, once in a while, visiting any property you own with little to no notice so you can see how it actually is on a day to day and not after a PM has cleaned it up knowing you'll be there.There's no right answer of when you should or shouldn't, it'll all depend on what will make you comfortable and what you can afford.

This (a copy of) might help the owner be more comfort that you are able to close.  

It means they are not operating the property correctly, not reporting their expenses properly, they are owner operators and do everything themselves on the cheap, or a combination of these.Put together a pro forma based on how you will run the property so that you can get more comfortable with your numbers.  

The exact verbiage and terms would depend on your state's laws and what you and the seller are comfortable with and agree to, in a signed contract. 

Fully agree- the only reason I felt comfortable last year quitting my job to start wholesaling full time was because I knew my living expenses were covered by my insurance residuals for at least 6 months.

I've been under the assumption that I should wait until I am comfortable with the amount of capital I have.

I want to gain a lot of experience from top agents, but I don't feel comfortable giving up such a high percentage of my commission along with monthly fees. 

Taxpayers are paying you a comfortable living wage to go to college, while our civilian peers are going tens and often hundreds of thousands of dollars into debt to go to college.