The AC guy is willing to install new unit for free.I am praying the 3TON unit does the job but if doesn't, that means the HVAC or ducting system has inherent issues and I am done spending money trying to fix something that prob cannot be fixed.Am I missing something?

I have managed properties for about 3 years now and it has been my experience that if a tenant starts their lease paying late, they never seem to recover and at times, it is better to spend the money evicting rather than trying to keep the tenant in the unit. 

I also like spending time researching investment property for myself.I have 5 single family homes, and one multi family home. 

I grew up in a firefighter household.

It sounds like you're eager to get started, I would counsel you to pump the breaks a little bit and spend some time not just attending meetings, but making connections and sitting down with current investors in-person to get their take on things.I would also start studying the MLS or, if you don't have ready access to it, redfin, zillow, and the like to just start getting a sense for what properties are selling for how much in which areas of the Puget Sound region.

You have all these folks that don't even know what to do with a lead spending money sending out this stuff ... when if they were smart they would spend that money getting a RE linense and learn the business and become a RE professional than a wanna be investor wholesaler with no money and what ever credit and money they had just went up in smoke sending out letters with no ability to follow up or keep the campaign going there is no doubt you can get business with direct mail but most don't understand its a multi year commitment and many thousands of dollars. if you just blow your wad and your done then you will be broke and done and off to your cube to work for the man LOLPS I don't send out colleague request as I don't know how to do that I only accept them.

I'll spend around $10K on getting it rent ready.

ChrisSorry to be harsh, but to me it sounds like you need to spend a lot more time researching your market and making some kind of rough business plan before you touch wholesaling or investing.

There's nothing in the article that leads me to believe that he did anything extraordinary other than save (not spend) $10,000 worth of summer job money.  

I've got a friend with more than $2MM in equity that was on the verge of bankruptcy in 2008 because you can't eat or spend equity.