The specific language you need to perform your wholesale transaction should be acquired by your attorney and you should consult said attorney on your state's laws regarding how to legally wholesale as many do it illegally - brokering without a license.If you plan to have an assignment clause to assign the contract to another and market that property/contract to others for a fee, you are brokering.

There is an "ABC test", as follows:Under the ABC test, a worker is considered an employee and not an independent contractor, unless the hiring entity satisfies all three of the following conditions:a - The worker is free from the control and direction of the hiring entity in connection with the performance of the work, both under the contract for the performance of the work and in fact;b - The worker performs work that is outside the usual course of the hiring entity’s business; andc - The worker is customarily engaged in an independently established trade, occupation, or business of the same nature as that involved in the work performed.But under B, my business is renting residences, which includes sometimes fixing a broken doorknob. 

@Louis Zameryka if you’re considering a beach STR, and there is nothing familial tying you to Gulf Shores, I think you’ll see better performance year-over-year in Destin.

You decide to have a cost segregation study performed and based on the study, your assets are split up between the following categories: Tangible Personal Property, 5-Year Useful Life, 15-Year Useful Life and 39-Year Useful Life. 5% of your assets were reclassified to Tangible Personal Property (to be fully expensed in year one), 10% of your assets were reclassified to a 5-Year Useful Life, 15% of your assets were reclassified to a 15-Year Useful Life and 70% was determined to stay with a 39-Year Useful Life.

I had an excellent experience purchasing the property and so far the property is performing according to my expectations.

If there was an agreement that both parties were waiting on the occupancy permit and it has now been provided, the seller should officially request the buyer to perform. 

That being said I would look for funds that align their fees with your success through a small asset management fee/ most of their fees tied to the asset performance.

Of course rate and terms are something to consider but knowing they can perform/close and protect your reputation in the process is key.

Buy the property on how it's performing.  

Yes in theory you should shop around, but that's a lot of work and often times you may end up with 3 equally mediocre results - or you could ask someone who has already done that.Problem with lenders is that you can olny shop rates and maybe fees, you can't shop for performance.