Don't think there is no competition in small towns.Larger cities will have more people involved in RE, the competition may be more sophisticated, bigger players, more inventory but more feeding off it too.Smaller towns usually have slower turn over, a property that's difficult to sell is easier to buy.

,If FNM is short for Fannie Mae, the 4 mortgage limit has been changed to a limit of 10 mortgages.Here is a link talking about that: http://themortgagereports.com/7395/the-5-10-properties-program-is-for-investors-with-more-than-4-properties-financedRaymond

I am more involved in new construction, and don't invest in fourplexes, etc.

I have no idea what other costs are involved with this deal.

I think that the core strategy for setting up my financial house involves establishing relationships with three key people: (1) an estate/tax attorney, (2) a financial planner, and (3) a CPA.My intuition is that I should probably talk to those three in that order (lawyer, CFP, CPA).

Electric companies also have rebate programs.

I met the lady who runs that program and EVERYONE is successful who goes through that program and it's required for all new owners.

A lot of times, it takes more than the address of the tax bill, and googling the persons name, cheching whitepages, facebook, radaris, etc..Skip programs are pretty amazing, they'll tell you the adress of a person if they are renting, as well as phone numbers (cell and landlines), family members, etc...

Remember, Wholesaling is all about creating a winning deal for all involved.

Pull comps, check the lease option, interest rates, cross fingers and hope a new program comes out to cover everyone "Making Rentals Affordable" application.