There is a big difference between a wholesaler being greedy (and stupid in my opinion) by trying to get some large fee out of a deal where they added little value and a deal like this where they could have even made more at a 75% to ARV price (which I would do all day long in my neck of the woods).Now, all that said, I also want to point out that I do NOT have all the facts, figures, and details of this transaction so I will not comment on if this deal was done legally, ethically, or properly.

That and lack of experience will create doubts when speaking to brokers/lenders; so building a credible team and/or partnering with others in the space is the go-to.I used to live in your neck of the woods (JP) and although not my primary target market, I'm open to chatting if you like as I do believe Chicago is a good market. 

Are STRs legal in your neck of the woods?

I also found furniture and some cool inexpensive "art" pieces at a place called American Furniture Warehouse but I don't think they are in your neck of the woods.  

It's kind of a smaller town, but I was wondering what the rental prospects in that neck of the woods might be. 

Congrats of working out your savings muscle.

Loan amounts below $75k are a problem for nonQM, no so much for conventional (especially in our neck of the woods, I come across them often).

Your neck has yet to feel the government's jackboot on it, that's all.

One of my loan officers is in your neck of the woods and is a combat vet.

I would focus more on building your skillset and maybe pick up a weekend job so you can earn and save more money.The retire by 30 crowd preaches save, save, save which is a GREAT muscle to build.