If they are on a month-to-month contract then you can give them 30 days notice of termination or to sign a new agreement.There are some major red flags.

@Lenza McElrath        Generally speaking if ANYONE will not be transparent about the income that a property generates, that is a red flag.

You need to have consistent inventory and be a serious player to pull #1 off, assuming you are in a competitive market.

Living in a red state has its perks :) 

I think is about relationships, after you reach out to all the wholesalers in your area in all the diverse ways possible and exposing yourself as an end-buyer on platforms like Facebook, you then start to vet out all these wholesalers and with time you'll see who the real players are and who the daisy-chainers are

Overstating the profitability of this endeavor by grossly understating the competitive nature of the bidding, the sophistication of some of the players as to research capabilities, etc.5.

The OP is currently exploring conventional rehab loans (presumably 203k or similar) which would indicate that he is intending to owner occupy, and therefore hard money loans are likely off the table (as most HMLs are not NMLS licensed and don't make owner occupant loans).That said, to the OP, if you're looking at a conventional rehab loan you're just going to have to accept higher costs, less flexibility, and more red tape.

People are generally referring to this type of entry as contra-expense or atleast that's how I interpreted.In the PA tax return, this line item was highlighted in Red and hence the question

The involvement of onsite management, often seen as a potential red flag, can lead to the property failing crucial qualification tests.

HELOCS do exist for rental properties but you are usually capped at 65-70ltv and these will most likely require a full underwrite that takes into consideration taxes, income, dti and all the normal quasi-associated red tape.