Agreed with @Ali Booneriding the stock market roll coaster is never fun however its good you are seeking other alternatives 

Always seek professional consultation from someone local.I don't think your FIRST property has to necessarily be owned by LLC.

Seek quality business men & woman out, and let the Holy Spirit of God lead you in your business decision making process.

Can anyone recommend a good book that teaches wholesaling? Thank you.- John

I currently own a complex in Los Angeles but that area is saturated and properties rarely cash flow for me to seek to expand here.

I would like to seek out a mentor here in NYC.

As was mentioned often times there is a reason why the buyer seeking SF is not at a bank getting a conventional loan.  

I can't get out of my current apartment lease until next July without a big penalty, so I can't do an FHA loan.However, if I buy even a $300K home, that ties up at least $75K of my cash (25% of $300K) but I seem to have a hard time finding good rehab deals (any wholesalers want to bring me a deal?

Lots of good Chicago connections for you to make on here so seek those of value is my advice.  

After seeking the estimate of several contractors that mostly turned out to be less than professional , I have chosen the one for this project.