He is a bit fat and sweet and eats everything he can, but when it's time for the claws you had better steer clear and fast.

For your entertainment, the first deal structure600,0005% down 30k, 2k for 36 mths=72k, balloon payment of 540,000 in year 372k=5% 30k towards 10% downpayment with the remaining 42K as financing fee to seller for holding the note for 3yrsyes I know it looks like a drawing with fat crayons by a 2 year old/unfortunately you don't know what you don't know!!

And while I recognize taking a cash flow hit right out of the gate is not a fun thought, a vacation rental should cash flow well enough that you're at least breaking even in a downturn, and have enough margin that the fat times get you through the slim times with no problem.  

Stay healthy, stay away from bad people.Some ideas to find the deals:walk/drive neighborhoods, look for neglected propertiesadvertise, newspapers, radio, pass out flyersWrite a nice letter to landlordsWhen housing court starts up again, meet landlords there - chatCall and visit owners of Expired Listings - make offersBuild a relationship with a few Realtors, offer to pay them a fee (3-5% of purchase price for unlisted buildings) for presenting your offers to FSBO's and expired listings (auto pilot investing) The purpose behind this is to open negotiations with sellers, I always offer well below their asking price BUT IN WRITING hand delivered by an agent (you save time, cost of gas and you increase the odds of finding a fat equity deal)Study Real Estate Control techniques; delayed settlement, assignment clauses, all types of options, hybrid or JV with sellers, repair consideration with possession (known as front porch offers) use one of the 21 proposals for seller financing (the best highest leverage financing you can get)My LOCK-DOWN has proven to be profitable, I have time to network and develop clients nationwide to mentor/partner transactions.

@Scott King Honestly I don't think the margins are fat enough

If you are sitting “fat and happy” so to speak with your rentals and aren’t looking for more or rarely will, then probably your license is to worth.That’s the very short of it.

Track your spending and see where you can cut the fat out of your budget.  

Wholesaling with no money is like internet dating with a photo of Tom Selleck when you are short, bald, and fat.

No point in making mad returns to only find yourself fat, stressed and divorced.

If that's all you are doing and have cold feet, stay in a fund, annuities can be had from insurance agents.Besides the money, I liked knowing my money wasn't backing some sleezy corporation, polluting the ground or air, wasn't used to make people fat or die, that it had a social purpose, built dreams for families, kept an elderly person in their home, gave people a chance to build a nest egg or go into business.