A typical model may look like this (very simple version):WholesalingInputs:20 hours per week for the next 3 months$10K cashActionsEnter into agreements with Bird Dogs to look for properties for me ($1K for each deal I close)Spend 5 hours/week contacting members of my team (Bird Dogs, realtors, title companies, friends and family) to locate propertiesSpend 5 hours/week making offers on propertiesSpend 5 hours/week working deals to find buyers for my propertiesSpend 5 hours/week negotiation wholesale deals between sellers and buyers$100 - $2,000 earnest money for each purchase contract$5,000 towards the actual purchase of a property per monthOutcomesEnter into 5 purchase contracts per monthAssign 4 purchase contracts per month for at least $5,000 eachComplete 1 property purchase per month to buy and hold and generate positive cash flow of 10% per yearThis is a very basic sample of a real estate investment mode for Wholesaling (and I threw in the buy and hold for fun). 

They can't do much from a legal standpoint, but they can make your life un fun if they hold the note and don't like what you're doing.IMO, you're better off renting or doing a lease with option to buy, though.

One deal I made 25+% and the other I made 200% split with partner (that was fun).

Sure they are fun drinking buddies but do they take care of a rental and pay their bills on time?

I have been hitting up Open houses and just driving around Baltimore on weekends for several months now.It has been kind of fun :)

i have lots of time on my hands cuz i work a 2 weeks on/off schedule so it might be a fun basement project for the winter!

For some fun late night reading:http://www.irs.gov/publications/p527/ch02.html#en_US_2013_publink1000219026

Find something you would enjoy and everyday will be fun and exciting, well mostly!

Eventually I am hoping to buy a Bellanca Super Viking to tour in, and then maybe a Harmon Rocket to play with just for fun!

Of course, you're looking to take a cut while wholesaling, let's say $4,000 for fun, you would need to have a contract for $81,000.