You are better off finding a good agent (this is a difficult task).

She is a real estate agent but rents so no property to place a lien on.1.

If the latter, depending on the jurisdiction, YOU may need to be a licensed real estate agent/broker to engage in what’s commonly called “wholesaling” but is actually “flipping”. 

Typically when you see "cash only" the agent doesn't believe the property can pass a home inspection which isn't relevant for construction loans in most instances and there are plenty of banks, hard money lenders etc. who offer construction financing on distressed buildings.

Building a relationship with local real estate attorneys or agents specializing in STRs in the area can save you headaches down the line. 

Start by setting one small, actionable goal this week—like researching your local market or reaching out to a real estate agent.

Since you're investing from a distance, I recommend interviewing multiple agents, lenders, property managers, contractors, and other professionals to build a strong and reliable team.

They go on Zillow or Redfin and just look for properties that meet the criteria, put them on spreadsheet, analyze the potential deal, pick up the phone and call listing agents.

Just withdraw it—it’s like a checking account.The Risks (Depends Who You Ask):A lawyer says everything can go wrong.An insurance agent says the same (so they can charge more).An engineer?

I had this issue before, and I wish my agent told me to accept cashiers check instead of a personal check, and I had to resort to hiring a lawyer to scare the tenant with a letter from his office.