Let's try to walk through your scenarios here | My responses in bold House hack live in one unit rent free | Very possible in some marketsMake $1k net per month | Usually feasible for triplexes and fourplexes in some markets, but you'd expect to have some value [Note: A deal like this are still out there, but are not the standard)Have 30k-40 equity after rehabbing the property | If you find a value-add play2-4 unit property | Yes, those you can find, no problem (market specific, again) Now, Mario, when starting out in anything (REI included) you have to be flexible and willing to sacrifice because if it were easy to get $1k/month, then a lot more people would be real estate investors. 

The Minnesota specific forms I'll need, an example of a lease agreement that has worked for you, a screening process that has had a high success rate for you. 

What specific problems do older homes have (structural, upgradeability, poor insulation, etc.) that you would look for?

A home equity line of credit, or HELOC, is one of the credit products available to homeowners specifically.

No, the article specifically mentions he leverages it into a $3m LOCIt was on Bloomberg:Sifakis, the Florida flipper, typically gets a $3 million line of credit from an investment firm for about every $1 million he raises on RealtyShares, giving him added buying power.Soooo, not sure how that works?

Welcome @Andy Rousch I'm from you're area so if you're looking to connect or are looking for anything specific feel free to reach out!

In reality, contracts are state specific, and contain specific language to protect your interest. 

More specifically I watched 180 law group LLC.

I didn't know if there was something specific for FSBO's though that I could find here.Karen

Also I would like to learn more about how to execute a contract and any specific things that may be important to include in a wholesale contract.