Newbie Investor Questions

[Kristen Chapin]

Good morning! I have a few questions I am hoping to get some feedback on. I want to buy a house at auction. The numbers look great (depending on what it goes for of course!) and I have a hard number in mind for my bid. I need cash to buy the property. It would work to do a quick flip or to buy and hold. In  my search someone requested to take out a line of credit. Do banks do that for $350,000? What other ways can I have cash but also be able to get it back if it doesn't go for the right price?

My second questions is unrelated. As a wholesaler, if you have a house and you can't find a cash buyer before closing, do you in turn buy the house? (wholesaling is new to me so just checking how that works.) Lastly, are there any good sites that have wholesale properties locally to buy and hold?

Thanks in advance while I figure all this out. 

I have 2 rentals currently that i manage.