One more thing to keep in mind, typically wholesale/assignment deals are closed in 15 days on average which is another reason why financing is not even a consideration.  

There are guys making good money on dirt cheap properties in Cleveland (and I assume many other markets) but they're typically hands on locals with a deep understanding of their market and real estate as a whole.

They are typically 3/1's and between say $50-100K. 

I tried to include all the pertinent information below:Rental Income: $13,200Rent: Currently has a tenant on one side at $550 per month without a lease – I’ve made it a condition of the sale that the tenant has either signed a new lease with my property management company or delivers that side vacant; other side is not rented out due to required rent ready repairs; rental comps in the area show between $550-600 (I’m being conservative and assuming $550).Expenses:Vacancy: 10% ($1,320)Property Management: 10% of gross rents ($1,188)Property Taxes: $2,065 ($905 for City of Memphis, $1,160 for Shelby County)Property Insurance: $450 per year Repairs and Maintenance Assumption: 2% of Property Value per year ($980 per year)Utilities: separately metered; all paid by tenant except for lawn mowing at $25 once a month for $300Advertising: 6% (roughly ½ of first month’s rent) $792 per yearDebt Service: Based on $49k purchase + repair price, 20% ($9.8k) down, 5% 30 year fixed is $2,525 per yearLocation:This is probably where most of my concern is coming from: Western edge of Hickory Hill, Memphis, 38115; major cross streets: just SW of Clarke Rd and Winchester RdAcquisition:Purchase Price: $42k, seller to pay closing costsRepairs: $7.5kTotal Acquisition Cost: $49.5kARV: Large range of comps in the area, best guess is $60kFinancial Metrics:Net Operating Income: $6,105Cap Rate: 12.33%Cash Flow: $3,580 per year, $298.33 per month, $149.17 per unit per monthCash-on-Cash Return: 36.5%Do you think it's a good deal?

Of course, such "savings" typically come with increased spending over time versus making the expenditure up front.

In commercial six figures in commission or more per deal is typical.

You would typically use a trade name if you are a sole proprietorship and don't want to do business as your name.

That typically is investors.

He is the typical traditional investor, very ole' school.

It is somewhat "messy", which is why it isn't utilized more.