90-day is not applicable in a cash for keys agreement.

I get dozens of inquiries which usually turns into about 10-15 solid leads that fill out my application.

The Leavenworth area is already at it cap and wont be excepting new STR applications until the existing count of grandfathered in STRs has dropped off to be lower than the cap....which wont happen for a long time.

For this application I am not sure I am opposed.

The rent needs to cover the mortgage, vacancy, insurance, property taxes, repairs, maintenance, property management, capital expenditures, and any other expenses that are applicable (utilities, snow removal, landscaping).

Let me guess, and they asked you to send money to them via western union to get your application reviewed?

I would love the chance to meet with, sit down and get to learn the application parts of the wholesaling process, as this is what I'm currently invested in learning to start to do myself. 

Most approach borrowing solely as the applicant.

I didn't run numbers, but my "feeling" is that your 1 and 2 are sort of contradictory / uneven application of concept. 

Ideally, you'd take a full loan application, run the loan through automated underwriting and the automated underwriting findings will tell you exactly what you need to obtain from your client as far as financials go.