I choose wholesaling because I felt it was the easiest exit strategy for me with limited funds and I have already talked to a seller who wants to sell me their house.

Leaving me with only an $800 mortgage payment/month.My exit strategy for the property is to fix it up and rent it out.

You have gotten a lot of good advice and other possible exit strategies.

I agree that it seems intimidating, but I think if I had a good deal with more than one exit strategy I'd give it a shot.As far as keeping current financing in place, the specifics would have to be worked out with the owner, but some may be willing to take a small amount of cash upfront in exchange for you getting payments current (if behind) and paying off the balance when you sell the property.This can also be intimidating because of DOS clauses, but I've seen quite a few people say that they do these deals frequently without having the loans called.I'm not an expert on any of this, just some things I know a little about that sound like they might work for your situation.

My initial planned exit is to wholesale those deals I create to other investors so that I can validate and refine my ARV and Rehab estimations with another set of experienced eyes.

There really is no downside to having an agent help you in your search early on, BUT, you do need clear guidelines as to what YOU consider a deal, i.e. cash on cash returns, total return, target rents, exit strategies etc.

Also there will be creative exit strategies possible.Welcome and best wishes,Jim

Pro Virtual:Learn my future Buy and Hold MarketLearn how to Virtually Estimate ARVLearn how to Virtually Estimate Rehab CostsLearn how to Virtually CloseLearn how to Virtually RehabCheaper Properties - Buy and Hold as a backup Exit is more manageble LocalLess Market Learning CurveLook for closer to 75% ARV and thinner % spreadsPossibly Higher Margins ($ per deal) for rehab due to higher pricesManaging Team & Contractors LocallyVery Competitive Market

#5 N I PV PMT FV 120 13% $38,178 $570 $0 PV = Sale price to exit investor I = Target yield for the exit investor.

It just will depend on if it will still cash flow.Here's a good blog post from earlier this week on the "variables" to consider. http://www.biggerpockets.com/renewsblog/2013/10/05/real-estate-investor/It is also going to depend on possible exit strategies at your disposal.