These are some of the better numbers I've seen in my area, but it's obviously a non-starter if my estimates are reasonable.

I'm happy about this part: "Incumbent in the sale of Fannie Mae’s non-performing loans are requirements that buyers of these loans pursue loss mitigation that is sustainable for the borrower." 

I am not a FL expert but there are some who are on the site.

I am certainly no expert in insurance but I haven't heard of an arrangement like you describe. 

In this particular thread, people are doing it to free up their VA or FHA loan entitlement.In general for non-biggerpockets.com people, the motive is because they can get a better mortgage today than they could when they purchased the home.

450k primary residence home in TN, seeking lender who would do 20-30yr fixed or balloon, non FNMA only due to the client having large cash holdings but no income in 2016 / 2017 due to their large section 179 tax depreciations those yrs Thank YouJames

450k primary residence home in TN, seeking lender who would do 20-30yr fixed or balloon, non FNMA only due to the client having large cash holdings but no income in 2016 / 2017 due to their large section 179 tax depreciations those yrs Thank YouJames

For more perspective though I'll pass the ball to @Dawn Anastasi and @Brie Schmidt who are far more the experts on Milwaukee specifically than I am. 

I am not an expert in wholesaling but I know there are a couple of different ways to go about it and a couple ways to profit.

He'll make the rent, so I wont be able to evict him for non-payment, but at least I dont have to deal with inspections etc....