There are hookups, and I have the units to place there, so won't be spending any additional money.

I think he ended up spending 30-40k for the fire suppression system, windows, and whatever else the city required... and I'm not even sure this is possible anymore, since I think Union City's program is not going on anymore, and, in general, they require showing off-street parking.I'm uncertain if the economics will make sense for you, although I'm not sure what JC may require or how your basement looks now.

If I were a tenant I wouldn't spend the time applying if I don't like the place.

Typically they are not eligible for traditional financing which implies other funding sources (HML, private Monet, self funded, etc).  

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

I do potentially have access to private money if needed, and a 401(k).

It is much more efficient to spend some time up front to really understand the market.

The successful wholesalers I know spend $8,000 + per month on online marketing, SEO, SEM, landing pages, lead conversion, etc.  

Yeah they will spend thousands of dollars to fight $1000 claim.

Spend your time on your contracts, insurance, and operations.Contracts-  copy, borrow from someone else as a starting point.