My coworker notified me yesterday that his neighbor would be listing soon (they are aiming for September 15), and if I was interested in moving a bit quicker, he would make some introductions for me before they list.

600 sounds like a good target for me.

I found the perfect house for me to do my first wholesale deal with, due to its price in relevance to its location and the property values in the surrounding area.

Self-certification alone (by checking a box) without any other knowledge of a person’s financial circumstances or sophistication is not sufficient to form a “substantive” relationship.This relationship must be established prior to showing the potential investor an opportunity.  

Hi Quinton,This may or may not be applicable to you, but if by "unemployed" you mean "on temporary disability, but my job is waiting for me when I get better, and we have an estimated return to work date," than this would be a scenario where ADA trumps ATR and you can still get a traditional mortgage.Fannie guideline on long-term/permanent disability, on social security disability, and on what may be applicable to you: "temporary leave income," which includes short term medical disabilities.For that last one:Just like women/men on maternity/paternity/pregnant leave, a gap between temporarily reduced income due to medical condition, and your normal income, can be made up for using asset depletion.

For me, I look for an ROI of at least 10-15% annually on my tied up funds before even considering a deal. 

If I were to take equity out in the form of a cash out, I would be paying another mortgage with no immediate deal to put it to use on, effectively losing me money.I hope this helps!  

@Adrien S. thank you - that's great advice and cleared up the muddy waters for me. 

@Sean Ryan If I understand the land contract correctly, it's just a form of owner financing and while it might keep the lot in your friend's name while the buyer pays it off, it will still go out of his name once the buyer fulfills the contract and owns the land.  

Which road would be the best for me?