This criteria happens to pretty much exclude all S8 applicants. 

You should fire them right away and talk to an attorney to prevent the loss, but I wouldn't expect much and it could be a waste since a company that does this will not have the money to do anything.When you have just one unit and you are looking for PM companies, your options are the bottom of the barrel because it's not a good use of the big one's time.

If it's worth that much, taking a HELOC on it should not be an issue at all long-term or short-term as long as the bank will do it.

Maybe they don't need the money now but in 5 years they wan to send a grand child to college.

You will need a software, screening policy, work order request system, etc... 

Private lenders are certainly an option but a fund structure would be much more efficient and scalable. 

I'll pay so much when demo is done, I'll pay some when painting is done, balance due when the job is complete. 

If you ever need some help in Oklahoma, id more than happy to!

Unless you have $5 - 10k MONTHLY to spend on marketing this is what you need to do to have any chance for success with wholesaling.  

Most mortgage companies will not call loan due if payments are current but you do run that risk and need to be prepared to payoff or refi at a moments notice.