For me, the first pass at underwriting is simply about determining if a deal is worth exploring further.In the current market, I’d say 9 out of 10 deals are dead on arrival.

How difficult is it to find tenants that are willing to pay market rent?

There’s usually not more than one investor with interest in any parcel so there’s is absolutely no incentive for the investor to pay a “wholesaler’s fee” in this scenario.In the scenario where the land is ready for development, and the economic conditions make development a profitable activity, the land owner has already been approached by the developer or multiple parties with offers to purchase.  

What have you been paying for utilities?

I can pay utilities, insurance, and other holding fees but I won't have enough to pay other cost like listed above.

They simply do Fannie, Freddie, FHA, VA, and USDA loans.

You may be required to make estimated tax payments when the property sells.It depends on what your 2024 total taxes due were and 2025 estimated total taxes / withholding / estimated payments are.If you pay in atleast 90% of the current year tax or 100% / 110%(Depending on 2024 income), you are normally considered good.You may want to consult with an accountant for more clarification.

This seems unlikely in the long run. you are forgetting that someone is paying down your principal for you so you need to take that into consideration. 

Expect to keep paying.

Ha, hosts anywhere could apply this to their region simply by changing a few verbs and nouns.