What would be an adequate debt to income ratio?

Would the best place to purchase be an in-person county auction?

My plan was to build my investing "business" to the level of being able to go full-time and replace my W2 income, and I always believed that eventually I would want to get my broker's license, but I never really wanted to be an agent; always a principal.

If not, owner financing might be an option. 

I am located in Bellevue, Washington and would love to meet up with you for coffee or lunch and help you set your goals and develop a plan to reach them.

I'm very pleased so far with what appears to be an excellent deal we got on our property. 

So wholesaling four properties a month wouldn't be an issue.

It is likely a state by state thing, but in Texas earnest money is not required to have a legally binding contract, but there must be an "option fee" in order to have a termination option (under para. 23) when using the state promulgated (TREC) form. 

As much as houses like that appear to be an opportunity, they often are not.

I would also say you could concentrate on certain types of markets, say college towns (think Omaha, ann Arbor, Charlotte would be an example)s or military communities (Fayetteville NC, Colorado Springs,  Killeen TX) .