Houses are above $500k and I have an average credit score, a couple of thousands in a 401 k, another couple of thousands in a joint money market savings account with my boyfriend, and a salary of about $2k monthly. 

There is a big buzz lately about the benefits and merits of "Co Wholesaling these days.Honestly,,,it sounds great and as a practical matter it seems like a great way for a Newbie or novice investor to get started.For that matter ,,Im sure even an experienced investor would love to split a wholesale fee with a wholesaler if they were in agreement and the partner brought in the exact buyer the wholesaler wanted in the first place.But I have some healthy skepticism about the whole concept01 Wouldnt you think a killer wholesaler even with only 1 or 2 years in the biz would have a healthy bonafide buyers list already,,those 4 0r 5 people that have already bought from him and tell him "bring me the next deal you get across your desk,,it doesnt even need to be a great deal"02 We are all busy,,,lets be honest and all the succesful wholesalers I know,,,as nice as they are as people,they really dont have time to mess around and train or hold hands with a well intended "buyer finder" there is still a learning curve03 From what I see it takes a lot of time and MONEY spent on marketing to shake out a deal from the trees these days.Ive heard stories of some individuals spending 5 to10K on marketing a month.

I have enough saved for a healthy down payment. 

An idea here is to use a joint venture with seller where you would come in and do the repairs to get it best possible resell condition and then resell the house make $10,000 and give the seller the balance.

That is something you have a choice over in your life.A positive way is exercising, having healthy hobbies etc.Destructive is addictive type problems like over eating, drinking, smoking, social disorders, doing drugs, compulsive gambling, infidelity etc.

That is why you will see alot of joint ventures and syndication in the commercial arena.  

You can make a very healthy living specializing on one segment of foreign buyers. 

Pros/ConsRehab Pro- house is next door and I could consider this my personal winter project and do the work myself ( I have ADD and need to a project to work on...)Con- all my personal cash is tied up in other projects...HoldPro- Minimal investment will create decent passive income and healthy ROICon- all my personal cash is tied up in other projects...Wholetail Pro- may generate a decent return on the purchase/sale spreadCon- no winter project or ability to hold for passive incomeWholesalePro- quick cashCon- not many folks buying properties for cash in my area/ may be unable to sell

I personally do it with several of my own properties, as well as properties that I manage for family and friends and we enjoy consistent, healthy returns year after year!!

Now, I hope I'm not out of line, but I'll offer my personal point of view for the sake of healthy debate with @James Wise.