I don't mind committing 2-5 years to get everything running and established, so long as by the end of that time frame any portfolio I have is set up in a way to set it and forget it.

The wholesaler probably doesn’t believe the deal will close, just wants a contract from you and sellers failure to sell as agreed so he could establish the lost profit due to seller’s non performance and sue for the $15k differential which is easier to win rather than specific performance. 

I bought here because it is an established STR market with existing regulations.

Plus if you do not have a well established team to get your project finished up before the end of the summer selling season, you may not get the return you were expecting as holding costs and declining values are eating profits.Option 2 sounds like a safer bet, but yes you will have to cover some expenses and may have to carry the property with your own cash until rent prices appreciate enough over the years to cover your mortgage payments. 

Established Market : There’s usually a steady demand for renovated properties in established neighborhoods.Both Charlotte and Louisville have neighborhoods ripe for this type of investment.

I recommend establishing a thorough and well-structured screening process.

I recommend establishing a screening process.

I defy you to name a title vehicle that cannot be pierced, even LLCs owning LLCs.Yes, have to file tax returns, but you don't know what your neighbors' tax returns say, and courts don't order turn over of tax returns as a matter of course, and even then, it's usually after judgment has been rendered.Trustees have to be honorable, which is why I use established banks and trust companies.Having your property in a trust will not protect it from a lawsuit.

- Are we able to word our new lease such that if utility costs exceed the established flat rate then the tenant is responsible for the difference?

Identifying turnkey multifamily properties with established performance can be challenging.