To be direct, I am not a fan of what you are proposing because it shifts all the risk onto the other partner. 

Cash invested: $60 Sale price: $365,000 Sub-to deal with homeowner pre-foreclosure How did you find this deal and how did you negotiate it?

I have been working with investors in my area and partnering on deals for the last 4ish years.

If you're not using Hard Money and the property won't qualify for conventional financing, then you'd probably need to locate private money or if you have friends with IRAs, they can be self-directed to invest in real estate.

The wholesale deal is at 81.5.

The predicament we are in is the property is not in the condition to charge that much for rent and we would also leave a lot of money in the deal once we refinance if we cannot get in there to fix it up.

It's a small shop and we deal with the owner, no one to escalate to. 

Wholesaling, for these professionals, is the byproduct of a successful real estate deal finding business, not usually the business. 

Quote from @Leeling Chew: Documentation probably isn't that big of a deal.

@Matthew Drouin and many others have good success with direct mail.