I suggest 1 - Starting with Craigslist and rentometer.com to get a good background2 - Driving around and eyeballing the properties on the higher end of what you want3 - Adjusting your mindset to talk to potential tenants about the value of what you're offering.

They would either accept or counter you with $100K.

I was being deliberately black and white, when I knew there were grey areas.My counter-question would be then: of what benefit is it whatsoever for a Wholesaler to be Licensed?

Will you be ok to drive by your home and see the grass is dead, the window screens gone and torn and a bunch of crap in the yard?  

It's hard enough to hit a target you don't have, but also hard to hit a target you don't see clearly.Equity has value, but that value is volatile, as we have seen thru the recent crash.

I'm a bit of a perfectionist and the thought of not being able to see a home during a remodeling process would drive me crazy.

great Q Julie - I am going thru this right now. 

IMO, you have more risk driving your car than in owning single family homes!

Over the weekend I started driving around the area in which I live, and was honestly a but shocked by how many properties I came across that were either vacant or in a major state of disrepair.  

The more non-institutional you go with a counter-party the less consistent the pricing will be.