there are alot of cities passing regulations on denying section 8 applicants as a form of discrimination. 

With your current estimates, you're essentially assuming infinite lifespans for the property's various components (roof, foundation, HVAC, electrical, plumbing, water heater, etc.). 

Also, check with your agent, I’ve been curious but haven’t investigated yet but seems like I heard the city has some landlord rules or regulations that may need to be considered.

@Liz Fisher, biggest thing to watch out for is the rules and regulations for STR but in a vacation area like that it shouldn't be an issue. 

Wholesalers need to be licensed and regulated.

We had to do everything to the house: re-wire, new plumbing, take out walls, bathroom, kitchen, you name it. 

Same goes for foundation, HVAC, plumbing, electrical, etc.I don't see any budget for utilities, and given that it's a 4-plex, I'd expect there to be some common areas (hallways, exterior lights, etc.) which would incur utility expenses that you'd be responsible for. 

It's time to put a cold hard stop to wholesaling without strict enforceable regulation and licensing being put in place in all 50 states. 

I replaced old plumbing and repaired damaged flooring.

Also, I checked with the  Dept Real Estate Regulation and Enforcement, They had never heard of a "tort".