After years of falling on and off track and finally centering my focus, vigorously studying, and pushing myself towards a new career I felt passionate about, I FINALLY got my Real Estate License.

The seller falling off the radar has a high likelihood, I never thought of that.

After licensing and usury, consumer purpose and business purpose, under which owner occupancy falls, are probably the most misunderstood topics in private lending.

Success won't magically fall into your lap while binge-watching your favorite show.

Any suggestions or comments about pit falls we need to avoid or other advice?

I assume no, Do one or two then everything else will fall into place. 

(if fall into 20% cap gain add. 25k on 500k)

Issue I am having is that this falls below the 2% although I am able to aquire for less than the max proposed price.Using the 70% rule it works.

As Russell and Wayne correctly pointed out, if the wholesaler did not possess the license, and this transaction falls within the legislation's intent there's nothing more you can do.

If you can refi out after a few years at little to no cost should rates fall enough to find a better loan, it's good to keep in mind.#2: Residential is (broadly) safer, and retail's sure had its ups and downs over the years.