There is a property (SFH) I am looking at that has a rental property (2br apt) in the back yard sitting on top of a garage- the entire property is actually zoned as a single family dwelling, but I was told by the owner that because that rental unit/building was built a long time ago, it was grandfathered in as a legal dwelling without special permits.

There are some very successful wholesalers here on BP and they all started out small and worked their way up...find out how they did it and pay special attention to their advise.

I also am prepared to send in actual account statements, should the request arise.

I think that you figured out your own answer in that even though these deals seem to be pretty good by cash flow standards in a vacuum the prices aren't anything special based on the market.

After we spend time researching our market, learning more about the business, and preparing our business we started investing in real estate.

Pay special attention to guys like Jerry Puckett who are successful in the difficult wholesaling field.

Hi Wenwen,I am in Atlanta and I specialize in Multifamily and also Triple Net.What are you looking for??

Are there any special precautions you guys take when dealing in properties in sparsely populated areas?

Again - a good lawyer specializing in this stuff can tell you in 2 minutes.

As for me, I am licensed and did so right away (as I was working on other aspects of preparing my business such as learning my market, writing a business plan, learning more about REI, lining up contractors, etc).