I consider landlording to be a two-way business relationship -- I have agreed to provide a decent place to live at a fair price (and have the responsibility to respond quickly when anything happens), and I emphasize (often) that the tenants have also agreed to follow a set of expectations and requirements, including paying the rent on time.   

I emphasize free because you'll never get through the body of free knowledge out there in 10 years. 

It's why I emphasize getting that right before considering the other elements of the equation. 

Is the strategy of wholesaling lease option contracts within real estate guidelines if the investor doing the wholesaling is very careful in the marketing and execution of the process to emphasize he is only selling the rights to the lease option contract and not selling the property both with the property owners and to the tenant buyers and also clearly states he is not a licensed real estate agent?

That is an important point, I wanted to emphasize it again.

Emphasize the simple truth, that you don't know if the water leak is putting the other tenants in danger, as it put you in danger.

I also graduated from college with honors in a business degree that emphasized real estate. 

I graduated from college with honors in business that emphasized real estate. 

I also graduated from college with honors in business that emphasized real estate. 

Well, of course you're right that they all emphasize the upside.