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? 

It also scrapes MLS for properties sitting 90+ days and reaches out to sellers who might be open to creative financing.Another big one: it sends out offers in bulk, tracks responses, and helps me focus on the ones that actually move forward.

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? 

Do you know anybody that is actually doing pad split that you could tag to this thread?

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.

My takeaway was never to tell the insurance about a loss unless you actually do have a loss.  

I actually went to a REI meetup yesterday, and I was able to find a lender to help me out.

Running the numbers on paper is one thing, but actually securing bookings at your target rate is another.Sounds like you’ve got a good handle on your market and what your guests are looking for, which is key.

I was actually thinking about that after I posted.