Also, there is absolutely no ethical issues in working with multiple wholesalers.

I have a commitment from the best ( Ethically and production wise) GC I've ever known to get me through my 1st flip, I'm starting a RE course this month to get a better feel for the whole process.

They are acting as an agent without the laws, ethics requirements, education, and insurance that are vital IMO. 

As a new investor, I'm concerned of the ethics of not reporting the 5th unit and assessing it properly but am not sure if I'm making too much of the situation.  

Yes, ethics requires taking a position :grin:

Can any fellow BP members give me recommendations for ethical HM lenders -- either national or regional -- who could finance a "buy-&-hold" property in my state?

This appears to be a business where if you aren't an ethical person you could cause people to lose a lot of dollars and I am just not with that!

Realtors, of this mentality and work ethic will not have an Investor's best interests always in mind.

She will lose her license for ethic violations.

as it relates to BP  in the beginning just believing that being a  BP member elevated someone to higher moral and ethical grounds. and finding out that its just like the rest of the world gots to be very careful about who is on these types of websites.. lost money with BP members who talked a big game  LOL.