Am I calculating the acquisition correctly given that I will need $8,000 down plus $4,500closing cost?

@Donald Walker, While I may not agree with everything Bevla believes, I promise you that she is absolutely correct in calling out the connection between passion and motivation.

You are correct, this all boils down to understanding your market before you invest. 

My suggestion will take a but more time upfront, but the pay off can be solid if done correctly and keeps you in more direct control.

Am I analyzing this correctly??

After some more research, Charlie is correct and in order to make it legal, I would need to install a sprinkler system and steel fire escapes, which is about $25k+ right off the bat, not to mention other misc upgrades. 

Am I correct to believe that before a gut, a meth house should be remediated by a professional company? 

@Dmitriy Fomichenko is correct you can convert your current IRA to a SD401K, check book controlled trust account and use those funds to invest in real estate, syndications, as well as gold, notes, and tons of other investments.

Mindy Jensen- I did fill out the survey but not sure I did it correctly.

in all states in the US the way wholesaling IE assigning contracts is taught its simply a violation of the licensure laws.. what happens Is some states could care less so the guru's sell courses to these folks convince them that equitable interest works.. but its up to each state to determine if they want to enforce their licensure laws.Oregon is one that is starting to go after folks that market properties they don't own.. same with Ohio  and FLA and some others..NB being a very small market has not really been talked about on BP.. but your correct the bottom line Is folks need to talk to the regulators not an attorney.. attorneys in these instance are paid to argue..