@Chris Clothier  I think the biggest disconnect in this arena of wholesaling is that folks just under estimate the back end work.. and at the end of the day its sales and marketing.. and if they are not proficient at that and have some closings skills etc.. no program is going to bring them to the promise land.IN the what ever its worth category.I grew up in the land business which is pretty much like wholesaling.same process only the lead were generated by door hangers.. and there was no internet so you called and made an appointment.if you ever watched the Movie Glen Garry Glen Ross it was that exact environment EXACTLY.So my dad would have 30 sales men and he would hand out the leads for that week.it was funny some guys would just stare at them.. and they would pre judge them before they even talked to the folks. 

You can do 15-20 rentals, with Property Managers, and be doing $80k pre-tax.  

I work on the side for banks and mortgage companies as a contact t inspector for houses that are vacant or are in pre-foreclosure. 

Youc an go 15 or 20 year terms but basis points creep up another 50 to 100 or so on the rate reducing returns. 11% COC pre-tax is doable on class B assets.

Some are posted as occupied or "pre-listing" on their website, but you won't be able to get into those and there is more risk.I know several people who have bought from there.  

We did not get pre-approval from Wells Fargo.

HOWEVER our interest rate will be at least 9% higher.IF you are buying a property that needs work at a good low price, you may consider going for a hard/private money option WITHOUT pre-payment penalty.

Special conditions) If there is any other condition to be met or agreed to, such as any pre-payment penalty applied to any part, such would be described.

@Justin Foley Are you confusing "proof of funds" with a lender "pre-approval letter"?  

I was working with a lender who has pre-approved me and told me that I could get a loan on a multifamily for 5% down.