It makes it very difficult to answer in a forum post because the actual scenario could take a different turn depending on documentation, side contracts with your silent partner, etc. 

The lender may want an appraisal or other property condition documentation, which may be difficult to get prior to a trustee sale.

It's difficult to know if we 'bought the house right' just yet. 

That is difficult to time perfectly, but I was able to come darn close and would argue it is not really that speculative. 

How difficult is bank financing when it is out of state?

I'm personally of the opinion that it's generally best, at least for buy and hold properties, to have more equity in the deal, but as someone who lives in California, buying local properties with 30-100% down is fairly difficult for the investor just starting out.  

Many banks require a year or two tax returns showing that you have experience managing the properties which may be the most difficult thing depending on how long you've had them (your income itself really shouldn't be a huge factor based on those numbers)Your existing properties could be offered as collateral as well, but that's a bit higher risk and I wouldn't suggest it.Another option would be to "house hack".

Meaning, what happened that you totally didn't expect to be so difficult?

I would like to get started with wholesaling, which I know is currently very difficult in the Colorado market.

They're about 80 pages long and difficult to interpret.