Your strategy is perfect and is the exact same thing I'm currently trying to do. 

Hello BP so I'm setting up my wholesaling business and everything is perfect but one thing, I'm a professional driver (truck) and I can't answer the phone right off all the time.

I've used them for about 10-15 years, and while they are not perfect, it is far more affordable than other options.  

It was perfect in every way and I have been trying to get in touch with the owner.

Deter your competition; personalize your offer by writing a letter to the owner introducing your self and what you like about their home, why it would be the perfect fit for your family.

I have done small short term 10k loans before and although it is secured, the lien is not "perfected" due to the short timeframe.If your friend is willing to let you pay directly to the title company in escrow and pay you a fee of $1000 for the loan, then I would proceed but my risk tolerance is higher than most.

22% true net returns if factoring in maintenance and vacancy smells like super low income which is why Detroit would be perfect for this type of figures.  

I have owned the lot for many years and see it as a perfect retirement spot. 

You can back out of the escrow even if the inspection comes back perfect.

But I think it will be tough to get away with bandit signs in the type of neighborhood this property is located in.