Since Investor B has the 1st lien position, what other type of instrument can be used?

Some say its key in starting out without any capital and others say that that particular market is saturated, possibly illegal, or unsuitable for a beginner.So my question to the community is this: if not wholesaling then what?

If the lots are in high demand you could ask for more or sell it outright.Once you agree on terms I would definitely have an attorney draft all documents and security instruments.

Real estate is fun for them but they don't want it to get in the way of their real passion.Turn Key and other passive RE  instruments can be great for your involvement because they allow you to indulge but limit your involvement to the tertiary. 

It has been so instrumental in our investing journey, and in my growth as a real estate agent.

So you may need to look into this as you said you want to be able to use the assets.Trust instruments are also costly to set up and require annual tax returns to be filed.I hope I was able to answer your question without going into a tangent.

I can't say I've been that instrumental in creating anything big here except grief for Joshua Dorkin :) But I'm glad he keeps me around.

I am currently working a Full time Job as an Instrument & Electrical Tech for an Oil refinery.

Since then I haven't really been actively looking and the prequal letter is only good for 90 days I think.I am meeting with a bunch of lenders over the next few weeks to see who has the best rates and financial instruments that can help me with this project.I REALLY want to 203k it but I don't know how feasible it is.

@Mike CostelloYou could google Fannie Mae note and security instrument Those are standard templates and could be done by yourselves for free.