Once I paid it off, I took out a HELOC, so the $$ isn't completely locked up for me to use if I want to..... if things crash, the banks may freeze it, but in the mean time I'm stockpiling cash so I may not even need it.For me it came down to the fact that in CA, the deals are very sparse, hard to find and tons of competition....so I got tired of seeing my cash just sit there earning 0.05% in a savings account.

Not to say that this isn’t possible with a 9 to 5, but in my line of work (welding) I’m usually pretty tired after work and just want to sleep.

The problem is that quality wholesalers don't just throw their best deals out there for just anyone - they first share them with people who have proven that they're not tire kickers.

Mudder tires with rims.A Glock 23 (he called and came back for it weeks later).

Seems fishy, but being out of state might mean that he's tired of coordinating viewings with tenants (assuming its rented) for tire kickers. 

Personally one of the reasons I've decided I want to build a house there is because I'm tired of having nowhere I can rent short term that's high enough quality.At the very worst, if I had to rent the property out full time it should be able to rent to someone for $1,000/monthlyIf I can offer accommodation for 6 people (2 double beds and a sofa bed), at $100/night that's still only $16 per person which would almost compete with hostel prices to groups of travellers.Pai is a huge tourist destination and it is only growing.

I'm kicking the tires with just leveraging a bit to decrease my investment and increase my return more but was wondering about the possible sale contract option if I could get a loan to cover me and get me a bit of the cash out. 

If you are holding steady and just tired, maybe not.Many factors to consider.

I'll provide some entertaining reading of how I got started: I lost my house in the recession in FL, I was in michigan thinking I would rent for the rest of my life and I was fine with that, mom "pressured" me to use her $50K loan (part of her retirement) to buy a house (no intentions to invest, just a house to live in) initially I didn't want to risk her money but after some thought I accepted her offer in 2012, after months of many losing bids of foreclosures I finally won not 1 but 2 at the same time, so my realtor brother said not to let go the other one so he lent me $20K, after the rehabbing, contractors, being scammed sometimes and feeling like the life was sucked out of me (and by miracle didn't get fired from my job) I finished both so I had to put one for rent, swore never to do this again but 2 years later was looking thru zillow and homepath and the adrenaline juices started flowing again, took out a home equity loan and bought 2 more, repeat same pattern, life sucked out of me, again I don't know how I didn't get fired, but afterwards I was just tired and not disillusioned with real estate like the first time; and then bought the last one where I live 2 years ago, sorry to make it long lol.Thank you @Jessie Niu, I'm trying to see which of the methods you mentioned will take me the furthest.

So you would need to contact the owner, see if they are tired of the tenants and see if maybe you can assume the mortgage or take over and pay him on a simple note.