First I have to advise doing a cash out refinance on the home rather than a HELOC. 

Would you advise the best way to find a local wholesaler (besides this site and google)?  

Can someone please advise on what I need to look if its a new building?

I'm looking for some advise on how to finance the initial renovation cost.

Peter,In this inflated market I would most definitely advise in using the banks money. 

Start by seeking out the smaller lists because the lists that take more work to get to, are the ones producing the most deals.Correct, but you conclude that lists suck, but then you advise people to STILL keep using lists.

My attorney has advised us to not deposit the rent checks from this tenant until the tenant is evicted.Does anyone have any similar experiences or advice?

While I know you can't give binding legal advise on a forum, can someone clarify for me how this sort of thing is typically done and what is generally accepted by the IRS?

Your attorney(s) should be able to advise the proper location and structure, which may vary from state to state.While there are reasons to go wider, I suggest you narrow down to a couple of states or preferably a smaller area than that.

@Ned Carey Thanks for the advise!