You've locked up the house and it's during the inspection period, it's much more likely you'll actually own the place as opposed to a house you're merely bidding on.

Owning a lot of SFHs for cash means low levels of risk, but also lower levels of return, since cash locked into a home is only performing at the rate of return for that home, rather than leveraged for maximum return.

If you can get it below market and lock in some equity right off the bat, and if the rents pay for expenses plus a little extra (at the very least), then go for it!

Right now we are finding rates in the upper 4% range for a 10 year lock.

They are asking 299,900 Land locked, no room for expansion.Total Income     22,187Insurance              189Liability Ins.           767Interest Expense   174Loan Interest     10534Labor                  6400Repairs                 646Supplies                90Taxes                 2532  (Not sure what value amount this is on)Telephone            841Utilities (G & E)     802******I talked to commercial lender today and he said they require 30% down, financed commercially at possible 5.3 to 5.6% + for 15 or 20 years.  

well assuming it meets the QM rules for owner occ.. etc.the scenario you presented is not a very attractive note unless the discount was HUGEPV is what investor look at.... what rate of return they want and in notes its usually 8 to 12% APR but with 100% leverage most investors will only pay on face value about 60 to 70% LTV ... so right off the top you would be taking a substantial hair cut.No secret what your trying to do.. but I surmise you will very quickly realize its not realistic .. the discount would be such that it makes it a no go.If your thinking someone will lock up their money for 10 years at 5% well thats not going to happen especially at 100% LTV... 

We've been there and now we're trying to turn our "pig's ear property" into a silk purse based on what others promised they would do.

What form or contact do I need to lock a deal if I'm doing a wholesale?

I'd box up anything left put it in storage, and change the locks.And put note on door lock changed contact owner with phone number.. 

I'd let it roll to m-m and play by ear from there @Nancy Carr.