@Sean OToole You bring up an excellent point.

Bakersfield has the ability to bring in new jobs, and is steadily attracting commuters (even with a 2 hour commute each way to LA).  

He does bring up some good points and it is definitely something that I will keep in mind when starting my business.Thanks!

Some tenants can be pretty rough on the property, and if you don’t pass annual inspection, it can be costly to bring the property back up to the Housing Authority standards.3.

Would I, as the wholesaler, need to bring a contractor with me to estimate the repair costs? 

If they need to pick up the key tell them to bring the signed lease with them.

I suspect this is more for passive cap gain type stuff.. not ordinary income for those in the industry.. and or might work for the private individual who does this totally passive IE a broker brings them a note..

You will have a higher interest rate, but if you are able to cash out enough equity to purchase another investment property, than the higher interest may very well be worth the income that you are bringing in on an additional property. 

WSJ reported earlier this month that the population of NYC is actually declining for the first time in recent memory. 

and build an accessory dwelling unit (ADU) on  Prop 2 which would generate about $2400/month gross rental income, bringing that property's income to $6,000/month.