I have 2 choices: 1) Pony up the $3,000 out of MY pocket to get the job done (I don't need to bring this money to closing, but I do need to demonstrate to the HML lender that I have the funds to make it happen), or 2) Simply adjust my budget down by $3k.Let's say that the lender charges the following:3% origination fee ($65K *.03) = $1,950Appraisal Fee - $500 Pro-rated Interest (one month) - $380 Title Search / Title Insurance - $175 Pro-rated Property Ins. - $100 Pro-Rated Taxes - $400 Settlement Fees - $400 Recording Fees - $100 Wholesale fees (if applicable) - $500 Since "No Money Down" is not an option, I'll will need to pay these fees up-front in order to get my $65,000.

Then follow that up with offers in the mail, the cold call...RE...is all about engineering processes...test, adjust, implement, repeat

Rather than busting your hump and spending money trying to wholesale, which for most is a total failure, concentrate on improving your credit, living frugally to save every penny and spend your time educating yourself on finances, investing, real estate and your local landlord tenant regulations.The best thing you can do is adjust your life style.

Now they have to track/verify volunteer hours, adjust rents accordingly, make sure all rent logs are also accurate so there's no discrepancies, etc.

Who knows where rates could be when the 5th year of you having the same fixed rate will be before it adjusts.

Then use various ratios like rent to unit price and adjust for your area.  

Mine is 15.92% IRR while you indicated Frank gets 16.17% IRR.It's not that far off and I bet the numbers are a little different because Frank maybe adjusting the Closing Costs a little bit down because the Price is lower.

Let me know if you would make any adjustments to the way that I am calculating this. 

Pick different potentials in the same investment market...run the numbers before and have a list of what you need to know or look at, then run the numbers after...depending on the property and intent use one of the calculators on this site for every one...work it as and then use the tool to calculate what it would need to be  --  if they are the same then it might be the right deal.Once you have this then you can move to other surrounding markets easier...just make sure you adjust your assumptions to align with that market.One final note and this depends on your area, here in FL you have to account for what your property taxes "will be" not what they are. 

Adjusted called and I gave as much info as possible.