But until that point you have to just grind it out as a sole operator doing what your doing.

(I plan to keep all deposits, and operating funds separate from my personal accounts and in their own respective accounts.)When setting up new bank accounts, is there a benefit to using a bank local to the market you're investing in? 

the gurus sell the idea of wholesaling as easy and no money down but that couldn't be more wrong. there is no guarantee return on the money invested in marketing . a wholesaler needs to do a lot, a lot of research to the local market where they are trying to find deals. you need to not only find the deal but prove that it is one to a potential buyer/investor. now Im not trying to discourage you, there are plenty of ways of getting started without MUCH money down .you can get a few cards made at a copy/print shop. you can talk to people and let them know what your trying to do. you can build a social media platform which is free. remember as a wholesaler your simply trying to find the deal then sell it at a commission. a friend of mine that is an agent uses their title company  to find information on houses in my neighborhood,  become friends with agents!.

From the formula, we know that cap rate starts with NOI (i.e. revenues minus all operating expenses).

And they did come from one post in particular (not one of mine) but I'm new so I don't feel the need to call people out just yet.

Umbrella insurance is much cheaper.One last thing is if you operate thru S Corps and LLC's when you get insurance, make sure to get an endorsement covering you personally as well.

For me, I am trying to minimize risk by saving some of my cash for operating capital. 

They are not as aggressive on dollars but pricing, flexibility, service, operating covenants, and certainty of execution are better than both Agency and CMBS.

John Barkow Not legal advice: I view it as the LLCs money as opposed to mine, then I pay myself from the LLC.

I grew up in the construction industry (father owned a construction company, and brother is still operating this company today).