I’m starting a wholesaling company based in Wyoming and interested in operating in Texas and Florida as a start.

The frameworks others have presented of viewing the site as a lead-generation tool where you, as the host, are handling all the payment processing and screening is pretty accurate. 

If it's going to be a bonus space for your rental, or you want to keep a very unique and vintage vibe going, and it's not operational (say it's a gas fireplace and you cut off the gas to it) then it could stay.

Yes BofA is all over the country but if you go to your local branch it's pretty likely that loan officer and/or office wouldn't be licensed to operate in another state. 

Can you suggest a few good insurance providers that operate in that market?

However, passive loss limitations apply—if your AGI exceeds $150K, you may not be able to deduct the full loss in the current year but can carry it forward to offset future passive income.Future Considerations: If the property generates taxable income in later years, Kansas allows a credit for taxes paid to Missouri, but since you’re reporting a loss, this doesn’t apply.

Less than $300K in a mortgage, generating $4,000/month in rent.

Using an unexpected repair as justification for not caring about cashflow as much as appreciation doesn't really address the issue, especially when appreciation also operates on the idea that the property's condition doesn't decline relative to comps.From what I understand about REI and cashflow, cashflow should cover not only PITI, but maintenance, repair reserves, prop management, etc.

You'll need money for: closing costs, down payment (if any), operating capital to get the construction/rehab started (most HMLs reimburse you in draws for the work completed), along with some liquid reserves on top of that.

While there could be avenues to acquire real estate creatively with less cash operating  real estate properly is capital intensive.