You dodged a bullet by not sending them money, but this is also a great lesson on only procuring funding from reliable and verifiable HML's.

Instead, the folks deploying massive money in direct mail, SEO, or paying wholesalers hefty feels to source deals for their REITS and funds right now are the ones likely to procure the best deals. 

And have you procured a quote on doing the work that is laid in the architect's plans?

Depends on the width of the hardwood; there wasn't any particular standard so it could be a size that's difficult to procure.4.

.- Their Management Agreement states: Should any tenants they placed break the lease within the first (6) months, they waive the procurement fee in placing the next tenants (which in my case is this current tenant). 

Specifically that section currently states:"If during the Listing Term (a) Seller sells the Property and the buyer does not terminate the agreement prior to closing; or (b) after reasonable exposure of the Property to the market, Firm procures a buyer who is ready, willing, and able to purchase the Property on the terms in this Agreement and as set forth in the attached Listing Input Sheet incorporated herein by this reference, Seller will pay Firm a commission of X% of the sale price..." 

For instance, our boilerplate contracts state that if we "procure a buyer who is ready, willing and able to buy at a price and on the terms set forth herein...BROKER shall be due a fee of __ percent of the selling price, whether or not the transaction closes or title passes."

If so, I have had luck structuring these kinds of deals as follows:(1) you take a management/finder's fee/procurer of hard money loan fee off the top (5%-15% of gross profit - easy to do on a flip, for rental there may be additional limits as number of years, decreasing percentage over time, etc.)(2) negotiate with private lenders to see if they will be willing to treat contributions as part equity/part loan (i.e. $100K contribution = $50,000 loan at x% and $50,000 is equity contribution)(3) add up of the equity needed to complete the project (excluding loans) after the negotiation in 2 (assuming each investor/lender agrees to 50% equity/loan, then total equity needed is %145,000 (you), $50,000 (investor 1) and $100,000 investor 2)(4) split equity based on % interest out of total needed (in example above $295,000 so that you get 49% (in addition to fee off top), investor 1 gets 16.9% and investor 2 gets the balance).   

Hello,I am a new-comer to investing. I plan on wholesaling at first to build up my capital while at the same time growing my network and learning all I can about the business. While my plan isn't to remain a wholesale...

You've either got to have the cash yourself, get a partner with cash..... or procure a hard money loan or some other creative financing.