@Clark Harbaugh, Given the favorable tax rulings over the last few years (in particular revolving around trusts and their equaling a beneficial interest in the underlining propery) the IRS has actually been much more lenient (or at least silent) on these issues. 

Scrren PMC's by asking if you will get the material invoices AND the actual invoices from any contractors they hire. - Be prepared to pay for a PMC's time!

I actually like them because the homeowners' association (HOA) usually covers most of the insurance, and there is very little maintenance required.

I guess the one that makes the most sense is "Reject", but that seems weird because they might have actually passed screening.

Most lenders will use the lower of actual rents vs market rents regardless of section 8/non section 8.

My question is: when wholesaling, after finding a great deal, do you need real proof of funds to the get the property under contact or is there a way to get it under contract, find a buyer and complete a double closing/assign the right to sell without actually having the cash for the property? 

(This actually happened to me in VEGAS.

You should reach out to @Melissa Haworth she can get the actual numbers/rents on STRs in the area to help run your comps.Each building is different, each area is different, it is important to find accurate data to make good decisions.

Many of those properties don't actually produce income due to turnovers, vacancy, maintenance and damages and you're lucky if they appreciate enough to keep up with inflation.

The big thing that determines the price is what actually has to be done and the finishes that you select.I know you said it is a gut remodel but are the floors still good?