If your market experiences a drop you could find yourself underwater really quick. 

What I like to do with my borrowers is to have them pre-approved and have financing already in place for them so that when they do find their property and are going under contract, everything is able to move very quickly. 

We are located in Charlotte, NC, and here is some back story to help encourage professional opinions.As of right now My wife is a full time student at UNCC scheduled to graduate in December of this year (Woohoo!!)

Sellers are hip to the we buy houses guys, so they get turned off quick.

You should be able to liquidate them rather quickly.

First of all he has a business model that has worked pretty darn well for him for a bunch of years so don't discard that quickly because of what some spreadsheet tells you about hypothetical/potential returns. 

We don't have any desire to flip or make a quick buck.

If you and your wife are interested in connecting with other local investors, the best way to do it quickly is to attend some local REI meetups.

These things can get nasty quick. 

I am preparing to begin a campaign knocking on doors and sending yellow letters to buy a multi-family home and would welcome any advice and/or encouragement you all have to offer.Thanks!