If you are relying one someone else to come up with this number for you, there is a 100% chance you will end up losing a substantial amount of money on a flip. 

Do you know other investors you could go to directly rather than going through a wholesaler, or do you need to rely on the wholesalers (hopefully large/strong) buyers list?

@Anne Villanueva I'm trying to do the same only I want to eventually become an expat so I'm buying my properties now and plan to live our the country part time However I am buying out of state and I am relying on agents and eventually will be looking for a partner

They live w family to keep cost low or rely on their partners income until they start getting sales..

Do not rely on it for legal advice.

Albuquerque would be a better selection as the town does not rely on the base.

What's not factored into the analysis is the loss from future gains by using the CF to invest with.Also, in both cases, you are relying (hoping) the property appreciates as analyzed. 

If you want to believe the media the safest option would seem to be sell everything and get into to cash position until the media tells you to do something else with your money that they want you to do with it.I don't rely on the media for anything.

Those 50,000 rely on my and my competitors properties to make a living.

You wouldn't want to be relying on hard money for any significant length of time.