Hey guys, forgive the ignorance, im new to real estate and would like to get my feet wet, looking for info online i stumbled upon wholesale real estate investing, I live in Phoenix,Az where the market is ridiculous at the moment, is it even possible to find a good deal and sell it as is to investors to make a profit, where do you even find these hidden gems, Im in the car business and whole sellers buy at dealer auctions (need license to access) and re sell for profit at other auctions.Not looking for real estate agents so please to send me messages marketing me.

When you file your deed, you will be require to recite the actual consideration paid for the property, including the debt you assumed. 

You will be fine and you will crush it as long as you don't graduate and go buy a brand new vehicle and take on other bad debt just cause you can.Note: This is all the advice I would give myself if I could go back 15+ years and talk to myself in college. 

You did not mention price point for purchase and rehab so it is even more difficult to assess what a good return on the $20k would be or how long the project is expected to take.You have a couple options, the money partner with the $20k can come in as debt financing meaning they get a set rate of return om their money or they could come in as an equity partner meaning they get a piece of the profit but that also means they can take a loss too.

I have limited debt and after a divorce rebuilding my credit.

But deferred maintenance like roof, parking lot, and other big issues should be taken into account.You should probably connect with a tax strategist because it might benefit your business overall to paying higher rent, get higher debt on the property, and have significant writeoffs through a cost segregation study.

Well, he seems to have got into terrible debts while he was renting my apartment.

In my case it's my real estate agency, but it could be your day job, flips, wholesaling, or another business you start.While it's doable, I think it's really hard to quit everything and jump into long term investing full time right from the start.By building my active income first, I now have a way to pay my bills outside of my investing portfolio and it allows me to source financing easier, open LOCs, etc.Also, I've worked really hard to get my debt to income down on things other than real estate (i.e. credit cards, car loans, etc).

is the average person/investor to do:(a) first not participate in speculation of prices and (b) brace for stagflation-that comes with a price correction of the housing market/s and the debt market in the coming mid-term time frame.

I am free of debt and after lot of hard work saved up for a downpayment.