If you have a house that needs a lot of work by one or two trades (electrical, plumbing, HVAC, Flooring Installer,etc.) it might be an easier flip that finding a house that needs less work but by more trades.

There are certain markets don't have great wholesaling opportunities-The margins may not be there-There may not be enough cash buyers is buying in the area-it may be a war zone@Devon GarbusIt's my humble opinion not to specialize in Wholesaling when you get startedInstead you should be a problem solver looking to be able to help people solve problemsLow equity deals that are pretty houses in good neighborhoods with good schools are easier than wholesaling Minor rehabs offer a possible joint venture with the sellerFree and clear houses offer the potential of an installment sale, with a low monthly payment and no banks"Wholesaling only" is a terrible business plan in many areas

All it will do is give you back YOUR OWN money in low monthly installments.  

I don't have experience in the Detroit market, but I assume there are plenty of properties available that look great on paper but are going to be a real challenge to manage properly, especially from across the country.

I also install my own water heaters. 

We'll whoever installed it used a hot water heater instead of a boiler for the heat, most likely to save money on the unit.Quotes I'm getting are between $7,500 - $10k to replace the whole system with a combi unit and done correctly - which is a massive nut for something I thought I had a solid 10-15 years before having to replace.  

@Grant Steiner - If you're planning to rent it for a year or two before moving and getting your own residence the most important things will be making sure you have signed leases and that you are properly reporting everything on your taxes.

Do everything by the book, and in the case when you are faced with a lawsuit, use a good liability policy as a first line of defense, and your LLC that you have properly structured and documented  as the second.

It doesn't really matter if you are installing it into a 65K house or a 200K house, it's still $400.

I wouldn't shy away from the deal.. just realized you would have to give proper notice of non-renewal to that apartment and you also let sec 8 know the lease is not going to be renewed.