Being underwater doesn't matter to the borrower although strangely, I get "I'm underwater" as a reason for their default every day. 99% of all borrowers that buy a car are underwater the minute the brake lights hit the curb when they purchase.

We are going to place our live in flip property for sale this April and brake ground for our new home in June or July, mean while we will need a place to live, my daughter saw an opportunity at this point, she said that she can use the money she has been saving as a down payment to a house where we can live in while our home is being made.

As an example: duplex->fourplex with all units leased until the end of the year, but would like to use the property as an OO ASAP.Clearly wouldn't/couldn't evict the tenants (nor would you want to start your land-lording on that note).Not sure if you could (or would want to) "entice" one of the tenants to move or brake their lease before it is up.

This may put the brakes on ability to expand (maybe not). 

Just whatever method you use, make sure you stay on it and not take brakes from your deal finding.

WHAT WOULD BE A NOTE RATE TO CHARGE BUYER (WITHIN CONSTRAINT OF 2 ABOVE)  FOR MAKING TJE RE-SELLING THE NOTE ATTRACTIVE IN THE NOTE AFTER MARKET?

In addition to COVID you have subletting, illiberal subletting, tenant been there for months, you were made whole etc....lots of spinning parts and a local legal expert is really needed to help you brake down the parts and find a path forward. 

My poor Impala was paid off 5 years ago and now torn apart in the garage needing $500 in brake work.

Just from what you said, I would pump the brakes on wholesaling and figure out what your plan is.

I would pump the brakes on doing this right as a first-time because deals are much harder to find.