Beginner trying to BRRRR in local market?

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Hi all.

Long story short, I was approved to purchase an out of state beach rental as my first rental around with a conventional loan in July of 2020. Knowing the volatility of the vacation rental market, and beach closures during the COVID uncertainties, I opted out of pursuing that venture. In the meantime, I began wholesaling in the afternoons and on the weekends in order to help develop more capital as well as learn more about my current market.

Fast forward to present day, and the rate of which our local market is appreciating is absolutely unreal... I was able to save up enough to quit my W2 recently in order to focus on wholesaling, in hopes to develop a larger amount of capital in a shorter amount of time. However, now that I lack a W2, lenders are extremely skeptical of lending. I have a few wonderful mentors, but almost all of them recommend me finding a turnkey rental in order to quickly obtain tenants in order to prevent holding costs, rehab costs, etc... They also advise against a PML of which suggest traditional financing instead. I weigh their opinions very heavily, though I feel like I’m stuck.

With all of this said, my thoughts are up in the air in regard to what my next move should be. Do I focus on wholesaling to build up capital in this extremely hot market? Do I obtain a W2 in order to secure a turnkey rental?

I would absolutely hate to buy at the peak of the market and a few years later the market drastically correct...