I'm from Fredericksburg, a city about 40-50 minutes south of Arlington, and I can say (anecdotally) that Arlington is probably one of the most expensive places to live in all of VA.

I live in western Washington and everything is so expensive here.

I don't have my own cash yet so I'd be working with hard money, which is expensive, like 12% plus 2 points I believe. 

They are looking for moving expenses, etc.

Take the income, minus expenses (that is called the net operating income or NOI), then divide it by a 4 cap.

I think you should be a little more conservative on operating expenses!

Admittedly, I wasn’t aware of the massive disparity between my 2500 deductible and what my out of pocket expenses would be if a hurricane hit.

It's expensive money but the money is there as long as the deal is there.

Screening is very fast and complete - I can elect to accept CC and set the convenience fee (I do charge a tad above costs), and I find its pretty easy to reconcile a tenants payment via "serial number" or transaction ID reported to the bank with both Rentec accounting AND quickbooks - albeit Quickbooks is still manual for me (you can export from Rentec to Quickbooks via CSV... havent got that far along yet.We literally just completed several rehabs (meaning LOTS of expense), so seeing rents come in quickly and accurately is a relief for a change!

Sure you'll make a few mistakes but that's the easiest way to learn... and wholesaling mistakes arent very expensive.