What WF is saying is that the condo is non-warrantable.

My recommendation for future deals would be to tell the appraiser upfront if there is something about the transaction that would warrant a higher value than the sales price.

The documents only need to be notarized and it doesn't matter from where.BIGGER issue is, the QC is usually the wrong document to transfer ownership - -you need a Warrant or Grant deed, otherwise the title will be clouded and that creates a bag of worms for later.

Like on homeSearch.com, you are bidding for a property that is not warranted and is 'as is'.

Should I use a Realtor or agent to assist me in the process and paperwork, or are wholesale purchases too simple and quick to warrant getting one?

I would be weary of overpaying, the area doesn't warrant it yet, but I do believe it is on the rise.  

I agree that prices are a bit frothy at the moment in CA and many, many other RE markets (not sure about WI), and caution is warranted.

The bank won't be informed about my need to use it for my business as I know the current income isn't enough to warrant an approval under the business.

A warranty deed is what is conveyed from one party to another and technically "warrants" that the new owner has a clean title, free and clear of any clouds.

If you buy something new in SGV you will expect to pay much more, and most likely more than the Cap Ex warrants.