That's where knowledge and experience comes in, which is why I'm looking for the proper guidance from a seasoned wholesaler. 

If you understand it, you are more likely to buy right and manage it properly, which in turn, will create opportunity for you to stretch a bit on your second purchase, or your eighth. 

Investing out of state doesn't have to be intimidating with the proper knowledge and assistance from experts in those markets of your choice.

@Gregorio MartinezIs the back house properly zoned and permitted?

Otherwise, some book recommendations (these include mostly books on business/lifestyle or buy/hold investing):- "E-Myth Revisited" by Michael Gerber- "Cashflow Quadrant" by Robert Kiyosaki (further builds on the "Rich Dad, Poor Dad" foundation)- "Set for Life" by Scott Trench- "Long-Distance Real Estate Investing" by David Greene- "The Book on Managing Rental Properties' by Brandon Turner and Heather Turner- "The Miracle Morning" by Hal Elrod-"HOLD" by Gary Keller (geared toward SFR)-"The ABCs of Real Estate Investing" by Ken McElroy (geared toward commercial investing)"Multi-Family Millions" by David Lyndahl (This is on my list of "To-Reads".

You will need window wells for those egress windows and proper drainage from the window wells (something my architect forgot to include).

I have had substantial success with everything from SEO, to third-party e-commerce platforms like Amazon.

If they had been, it would be as you stated......but since they were Not served, at the least you would have to give them proper notice after the sale to start the 120 day clock. 

(I'm not an attorney, consult yours)The first would be the promissory note, that outlines the terms of the loan, and the second would be a properly recorded mortgage, which defines what collateral can be claimed in the event of default, and the related process for making that claim.As @Robert Kinsey mentioned, 5% would be a bit low for me as a lender, but I'd be very happy to pay it as a borrower.

Is the property properly tax assessed?