Tenants are responsible for property taxes, insurance on the building, and common area and maintenance costs under triple net lease.

One of my neighbors met with me the other day, who is retired along with her husband and they plan to sell their paid off 5Br with completed basement house valued at $750K in the same neighborhood and buy a smaller unit near Warner Robins GA.

I am considered a high earner and in the top tax bracket currently.

If i would have financed it for 15 or 20 years the payment would smaller which would have allowed me to have enough money generated enough money to pay all expenses including taxes

I'm on the official off campus UofA website too.

Third, I'd like to know what data I need to collect in order to write this off on taxes.

I had a friend whose house had major structural issues as an underground pipe wasn't sealed off. 

Your 50% value would need to be equal to or greater than the value of your relinquished properties (same with the debt that was paid off if any) @Dave Foster can provide more guidance. 

If “wholesaler” (used in the sense of contract flipping, not people who close on purchase and resell) were required to disclose in writing to home sellers that they are not purchasing the home, are only trying to “flip” the contract, and the sale will only close IF a buyer at a higher price can be found, would this eliminate the need (if a need does exist) for government regulations being enacted and or for “wholesalers” to be licensed real estate agents?

You get the write off for the repairs and still collect 100% of the rent so there’s no question down the road about gat happened to the missing rent.