For the person making 5% on their rental, they may see wholesaling as a very risky proposition where they could burn $2K or more on a marketing campaign only to make just $2K on the contract assignment.   

To factor this into a real estate project at this stage of market recovery is at the very least a highly speculative proposition and proposes a lack of understanding of how property deals should really work. 

That might be a more attractive proposition, and you could potentially do a lower down payment too. 

After the cost of the home then the cost to bring it up to a selling point or able to rent them, it was a losing proposition.   

But then maybe it was a "business proposition" :wink:

In theory if a property cannot produce positive cash flow with a hypothetical 100% leverage buying cash flow with your own money is a losing proposition.

Commercial or AG zoned land loan with is a 50% down proposition for a lender.

That, my friend, will be a very challenging proposition even with a business partner who goes to appointments for you.What is your goal for doing wholesaling?

That said, I think you may be missing a key selling proposition here.

Perhaps moving the house is possible, even one with a slab, but that is a VERY EXPENSIVE proposition.