I still feel I need to learn more about the terminology and how to properly estimate rehab cost to be an effective wholesaler.

Anything that is not done properly needs to be fixed immediately, while the crews are still there.

There are safeguards so people don't cherry pick their own mortgage and figure out a way to knock off some principle and manufacture their own discount.

That being said, don't be afraid to take on good debt that covers itself and gives you an income, but don't be too quick to assume lots of debt without financial backup and proper planning.  

That income will be aggregated with all other income, properly accounted for and used to offset the Borrower's liabilities.  

There will be more leads.As long as you are following protocol and using the proper documentation, I don't know of a legitimate reason (i.e., non-frivolous) why you would end up in court.

The proper way to use that formula is:MAO = (0.7 x ARV) - (repairs plus other expenses) So doing the math we get MAO = (0.7 x 400000) - (20000 + 90000)MAO = 280000 - 90000MAO = 190000To wholesale you would have to go even lower to allow for the assignment fee. 

Marital property laws will be in play as well as estate matters, comingling assets can be avoided with proper legal guidance.

You are effectively buying traffic from specific keywords, so do your research to make sure you are targeting the proper audience. 

If not done properly, you could face double taxation on the income.