Tearing down a house at 220k and having a new larger house built for 150 to 200 per sq ft just does not make financial sense if its Arv is 500 to 550 k.

Mind sharing which bank/financial institution you used? 

HelloMy Name is Eliott Harris, just started wholesaling because i want financial freedom.

Unfortunately we started with SF so after 10 years we were not able to hit our financial goals.

I would not take the financial hit yourself.

With townhomes, your due diligence should include checking on the financial stability of the HOA, and if the HOA covenants restrict rentals.

 I heard from biggerpockets and other speakers that vacant houses are good to target for a better return.Someone in my neighbourhood,MD,left their house and it is vacant now.The people living next door told me they might have left for good for financial reasons.I realy want to buy the house.What are the possibilities and what can i do?

The financial penalty is 3 times the value of the property.

Are there any types of grants or financial aid to new investor/homeowners?

I am a 22 and in a very sound financial positions and can take on some risk.