From experience, hard money guys like to see at least 15k (your skin in the game) in the bank before they will give the green light on funding your projects.I have not personally done any wholesaling, but from what I have gathered, you would have plenty money left over for a good marketing campaign!

It all comes down to the end game.  

Owner occupying a 4 plex is a great way to get in the game with as low as 3.5% downpayment FHA.OTOH 5 and great units are financed as commercial mortgages usually higher interest rate and maybe only fixed for 5 years then adjustable. 

With conventional financing, you have to have "skin" in the game.

So my experience is it all depends on the end game when I am looking at propertirs which changes the expectations on numbers I need to meet before making a move.

I strongly believe the droid is a far better product unless your 60 yrs old just learning a smart phone and need the most simple platform.

So the whole game is a bit different.  

to me, investing in $500 houses in Detroit is all about playing the LOOOONG game. you are buying dirt, hoping that something reemerges from the ashes.

hedge funds have been big in this game over the past years http://fortune.com/2013/05/01/the-lucrative-investment-trend-hedge-funds-dont-want-you-to-know-about/

Let's play the math game you enjoyed since I just finished renting a property:30 minutes per interested party that actually bothers to show up x15 people: 7hr 30min15 minutes per interested party that didn't bother to show up x10 people: 2hr 30minIncome from fees: $0Lost wages: 10hr x $25/hr = $250 (I actually make FAR more than that, but trying to be fair)Let's assume that my 3 properties do this twice a year (the trend so far): -$250 x2 x3: $1,500/year lossLet's say I don't screen and I get "that guy" that I trusted to tell me how amazing he was like you claim about yourself.