But not a bad alternative.

Have you considered land as an alternative to wholesaling houses? 

Originally, I didn't use service contracts, but with the cost of labor in NYC, it's far safer to use a service contract than to take a chance that nothing happens.

Alternatively you could do a smaller a cash out amount and a private agreement for installment payments to each party secured as a second lien post closing. 

When not 'full income' verification, which can even allow for high 55%+ DTI there are alternative income verification guidelines like bank statement, P&L, DSCR, Foreign National, Asset depletion, bridge and portfolio programs that allow expanded ways for borrowers to qualify. 

This opens you up to advance on your plan or pivot into an alternate path.  

The alternative is that we all pass on deals all the time that could have been.  

With my physician background we are implementing numerous types of health tech and services to allow our residents to live longer, safer and healthier lives - which tremendously sets us apart from the other RAL homes in the community.

Are there alternative ways to do this that are more hands free for me but still effective? 

IMO your safety from an investor standpoint comes with building a large portfolio.If you can keep it "under the same roof" even better.Less people to speak with and less drama with logistics and correspondence.The bigger the portfolio, the safer and the better ROI will be long term.Our most unsatisfied investors are the one's that own 1-2 properties and get pissed off with me and my company if they go vacant.Unfortunately, turnkey providers aren't magicians or God and can't wave a magic wand and turn 2 properties into 10 over night lolFolks that own 7-8 or 10+ properties with us aren't bothered if 1 or 2 are vacant, as the others are still performing and cover any losses on those that aren't.Thanks and much success