this is essential when buying, no matter how you buy.  

In my first 6 months I made 6 figures in revenue and about 30-35k in profit.

Glad you've joined us here and look forward to getting to know you.Gary Keller's books are absolutely essential reading for anyone who wants to be an investor IMO! 

Cut out all the non-essential items that are a want and not a need. 

You most certainly can sell the building before it is stabilized, but buyers will discount the validity of the buildings performance.So, to figure out the {potential} value of the building you need to:1) Determine your revenue:determine what is the market rent for each unit type in the building and calculate your scheduled rent;determine the market vacancy for the area (for each unit type) and calculate your anticipated physical vacancy;Subtract the second from the first above and you have your {projected} effective gross revenue;2) Determine your total operating expenses:These include: property tax, insurance, yard maintenance / snow removal, electricity (house metre), oil/gas (if common heat); water/sewer, garbage collection; janitorial service; maintenance (10% of effective gross revenue); Property Management (7-10% of effective gross revenue); advertising, accounting & administration, etc.3) Calculate your Net Operating Income (NOI): Effective Gross Revenue - Total Operating Expenses4) Now you need to determine/learn the price being paid for similar (i.e. same class of building) cash flows in the local area.  

  ( I keep some and sell some as I always have 8-10 places for cash flow)  The only difference is I rehab right away, wait the 6 months seasoning for the appraisal and get all of my renovation costs and up front cash purchase costs back so I have essentially no money  in after the renovation. 

Essentially, he is paying you $4,000 per property to be a bird dog for him. 

I'm essentially looking for anyone that has had experience in my situation.

Many folks believe that because Chicago is much more diverse in its industries, economy and has better job creation strengths, that Chicago will be immune from Detroit's death spiral of (a) borrowing and pension debt, (b) failure to control the costs of government, (c) loss of state revenues, (d) bad public schools and (e) ever increasing tax burden for working, middle class families.My interest in this question stems primarily from the dramatic price declines in Detroit real estate prices before its municipal bankruptcy. 

Seriously, essentially a wholesaler is acting as an unlicensed realtor.