So it comes down to comfort level.  

I currently work for a mortgage company making $40k a year and am a senior in college for Business Finance. i have around $30k in the bank and currently own a townhouse.

Lack of funds is just a high level excuse because the money will always appear if the deal is right. 

Im a recent college graduate and heard about wholesaling from a few infomercials regarding the Philly area, so I decided this would be more interesting than a full time job.

A minimum level of quality is important too and higher quality is obviously better, especially for flips.

As a wholesaler, you want to purchase the property (or get it under contract) and either assign the contract or sell the property to a 'rehabber' or retail buyer who finds the adventure of rehabbing their entry level home thrilling. 

He mentioned they have a flat rate prop mgmt fee and their rehabs are gutted down to the frame with all new systems installed and basic level trim.Neither podcast mentioned his last name or the prop mgmt company name.

I bought my first house at 20 and did a live-in flip in a college town.

Part is housing paid for by a local college and the other is warehousing paid by a local contractor.  

One of my College professors told me one time you have earned the right to say "hmmm that's very interesting I'll have to get back to you on that "I have been in sales for over 30 years.