Additional DetailsI’m willing to invest in out-of-state properties, though I prefer areas with good property management options.My primary focus is passive income, but I’m also interested in value-add opportunities.I want to ensure these investments provide strong tax benefits and diversify my portfolio.I’d love to hear from experienced investors:What would you do in my position?

Once you have found a few with good reviews, call them and tell them you are a wholesaler and ask if they are familiar with the process.

You can also search Google and read reviews.

Private Lender Partnership: Partner with a private lender or investor willing to take a second lien position to get you to 85-90% cash out.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I would review your process with how these investments are going so far and figure out what's working and what's not.

Quote from @Jed Butikofer: Quote from @Jonathan Greene:If you aren't house hacking, multifamily deals should be profitable (maybe not in CA).When I review markets I have lived in, I see 2 bed duplexes for $500k-$700k while only generating $1,400 each in monthly rent.

We also allow instant book but only to folks that have positive reviews.  

Honestly, I would not sign any lease until you positively close and legally own the property.

What I think you'll need to find out from lenders/banks/credit unions is how much historical timeline they'll need to review to support the valuation/income.