You would obviously have to factor in demo costs of existing structure, any environmental abatement etc, however that would be my first approach on establishing quick value.  

Wholesaling is over saturated and not in high demand.  

Had an asphalt construction biz before the refinishing .

Possibly Charlotte NC, because ven though it's a saturated market for investors (it seems), there are tons of renters there and the prices are still fairly low

Yup, definitely more challenging the more branches the banks have.Again, my experiences tell me if you can reach a local bank with one or 2 branches, most likely locally/family owned, you can make a good connection.These banks do exist, it's just harder to find them.  

He owes 183k ruling out keeping the existing loan in place (right?). 

Have found it really only viable to use your own existing LLC account. 

If you want to be able to refi, you want to do an actual purchase "subject to" the existing loan. 

Take Orlando for example.. nearly 5 billion dollars of commercial investment is under construction RIGHT NOW, not including the THOUSANDS of new home sales that is going on, all the while, existing home sales are still appreciating.

If you are looking to START "investing" via wholesale I would pick a less saturated area.