Each lender can use their own methods of qualification on commercial properties, and most look mostly at the asset (with the exception of your FICO, experience level and reserves). 

The secret is deploying an unfair advantage and/or buying good assets + time.

Real estate is and always will be a good idea because it allows you to create lasting generational wealth and leverage cold, hard, tangible assets!

Selling gets a tax free gain and allows you to be more liquid; keeping it allows you to have once in a lifetime cheap debt and have that leverage on an appreciating asset. 

They’re asset-based, meaning the loan is secured by the property itself, and they often have quicker approval times but higher interest rates (think 10–15%) and fees.

I will preface this with the fact that I have a legal background, specifically with estate planning and asset protection.

If you have access to someone who is ready to trust you with their asset, do right by the owner and go for it!

By the time you do that 4-5 times you should be able to have a paid off home or excess funds to invest in other assets.

I can’t comment on anything the wholesaler did to obtain the deal, that I’m not sure.

They should be able to teach you about asset risk, neighborhood risk, lay out A, B, C and D class areas, have stats on delinquency trends, vacancy trends, and other variable cost projections.