That makes perfect sense to me  The only  concern I would have would be that once I am done spending that money over three or four years did my properties appreciate enough to continue that lifestyle? 

If I go to Ruth's Chris it better be perfect for that kind of money or they will know about it instantly if standards are not being met.I was in that business over a decade in all facets so I know more than most about that business.

Shaun Dewitt , I would say that a loose interpretation of contract law, DTPA, and the like could definitely make it illegal to enter into a contract that you knowingly can't perform on.It's one thing to say I'm going to try and wholesale this but if not I'll buy it and go from there, and another to go around putting a bunch houses under contract and then never closing on any of them; because you can't find a buyer.Unless the seller understands way up front that you're going to terminate if you can't find another buyer, and you have them sign off as such, it's perfectly reasonable that a group of people (sellers) could get together and ask the attorney general of a state to investigate fraud.

Renovation would be extent from electrical and plumbing to perfecting finishes the whole "Rehab shabang"!

What you might think is a ton could be perfectly normal.  

I also own a property management company and we've had good (not perfect) success with long term tenants on a bigger scale.

Sounds like the perfect opportunity to find a duplex/triplex closer to work that you can live in.

Now is the time to grind and perfect your hustle!!

The housing department at your city would be the perfect place to start.

This seems to be a perfect example of the problems in the REI and real estate community.