We are actually in contract on a property right now.

Actually @Devvrat Kumar they ARE listed in Zillow, etc.

The buyer was informed that the interest rate will be floating because the construction completion date is further away (5 months) according to the preferred lender.

I’m actually currently saving funds but I should be ready around March.

In a wholesale transaction the seller is in some kind of financial trouble which the wholesaler is helping to resolve.You have two options an assignment or a double closing:I haven't done an assignment myself so not sure completely of the process, but in a double closing there is already a contract with the seller and the wholesaler who is fixing the liens on the title, when that is resolved there is a closing date where the wholesaler execute the contract with the seller and you execute the contract with the wholesaler.In general the closing cost in these type of transactions are covered by the buyer which it could be around 3.5% and it does not include sales agent fees.There is one thing that I didn't understand, it seems that the hard money lender is in charge of the transaction.

And yes, the first payment date is treated the same.

We let our tenants pick their due dates and also if they would like to split their payments within the month. 

I also agree with the other post on comparing actual MLS sales that have ADUs close to your area vs the cost of the addition.

Honestly, I would have never guessed that this market is actually not great for rental investments and real strong for fix and flips.

My biggest concerns are - to find a deal and then actually get a cash flow from day one.