To fund your next deal, explore conventional loans (15-25% down), FHA loans (3.5% down for house hacking), DSCR loans (based on rental income), or HELOC/cash-out refinance if you have equity.

I am patient and can wait for the right deal to come along. 

You can still find deals that are priced from $120-180k that do positive cash flow and hit the 1% rule.

I assume most very ggod deals are all cash.

I also did one of their 1% deals in St Pete for 100K.

He was a realtor based in the Midwest (I think the greater Chicago area) and was talking about off vs. on market deals and the importance of choosing equity over cash flow. 

The predicament we are in is the property is not in the condition to charge that much for rent and we would also leave a lot of money in the deal once we refinance if we cannot get in there to fix it up.

In other words, I think we will probably have to be on the hunt for a very good deal or a very distressed property, and will not be investing in million-dollar multifamily properties... yet!

They think they have a deal with this wholesaler and its obvious the wholesaler has no intent on buying the deal.

This route requires more attention as you will need to ensure that you are finding good deals wether they are on the market or off market.