Fwiw for that size bldg and a small investor my guess PM rates might be more along the lines of 7-10% -  at least in my area that is what I was quoted. 

I have a regular income and a good amount of reserve money.

We have good credit (by any standard) and a decent bank account (by college standards) but not enough to put down the standard 15-25% most HML and private lenders prefer.

If you plan on buying 20 unit buildings, then be sure you have a good manager and a few back ups for when that one fails or plan on managing it yourself. 

I will begin wholesaling very soon and as I begin my wholesaling education, I do have a question for you all.In order to be a great wholesaler, one must understand the wants and needs of end buyers, correct?

For now, I would suggest looking up some of the postings on the subject from me and a number of others referring to Sandwich Lease Options.

These are tough questions to answer and as you can see, you will get answers at all ends of the sprectrum from everybody across the country who likely don’t know your market, your budget, what you paid for the house, what your contacts are, etc.So with that in mind, I can tell you that generally speaking - kitchens, master baths, and curb appeal sell houses.

Without realtors I could buy for $130,000 and a GC i trust said $40,000 renovation budget. 

The backyard needed to be cleaned out and a fresh coat of paint goes a long way!

As you live in TX and as you are looking for MF contacts, I suggest visiting both Brad Sumrok (BS) and Lifestyles Unlimited Inc (LSI).