To me owning is a necessity.

Hi Ken, much like wholesaling you have to find the sellers that are selling because of necessity.

Having the deed could be a plus depending on what you are trying to do, but it likely isn't a necessity if you are trying to wholesale. 

For example, you may get by without a garbage disposal in one neighborhood but it's a necessity to stay competitive in another.  

We got into real estate investing by necessity (accident); and has since successfully built over 1m in real estate investments - that's not much comparing property value in the South Florida area.  

So I signed a lease for 12 months out of necessity.

If you are using estimates, I understand the necessity of going conservative.

So, they effectively ignored the anti-flipping waiver, and continued to require sellers to be on title for 90 days, sometimes not even allowing a CONTRACT to be written until the 91st day.Sadly, this social awareness of the necessity of investors in the marketplace, and their benefit as a force to help recycle old dilapidated real estate into good, quality, affordable housing has disappeared from the minds of the powers that be at FHA.

So, when I got a new job and relocated I made it a rental out of necessity.

I simplified my answer of necessity.