It is then up to you to do a workout with the borrower to get the loan re-performing or if that is not possible, to take possession of the property via deed-in-lieu or foreclosure. 

Of course if investor A has a proprietary wholesaler for all the deals, investor A should work out a deal with the wholesaler, that allows him a little more back in the deal than usual and lets investor B know what he will get for saving investor B sooooo much money as his part for finding a deal that investor B couldn't possibly find himself.  

Never been in this situation before, but I have a wholesale deal that is owned outright...is there a best approach to making this work out as favorably as possible?

Realtor should be happy to work out something with you.

You can work from the bids from the restoration company, or work out the costs yourself.  1. 

If you were able to rent out your current dwelling and move into the investment property you're going to buy, that would probably work out fine... 

Dangle the other projects over their heads for as long as possible while getting as much work out of them as you can.  

Consider an exit strategy if you buy a property and it doesn't work out for you.   

I work out of town currently, however I would like to own some some newer construction homes for rental properties.

I just had my offer accepted and now I'm trying to work out the financing.