If the property is not in good enough condition to get the CO, I can't move in.

If you pick the right market, a manager just has to be trustworthy and good enough to fill units, repair things in a timely manner, and charge fair prices.In the wrong market any little discrepancy will kill your investment.

Above suggestion will leave you with the headache of finding a deal good enough to cover his 7-10% and your 10%.

Most probably want 70% if its your first property but I think if you find a good enough deal and the right private money connection you can make 80% work.

They also have to make sure that the deal is good enough for whoever they're wholesaling to, to make a profit, and then they have to make a profit on top of it.

How long did it take for you to get a good enough relationship with your commercial bank to back a deal like this?

I don’t have a good enough credit score to get a traditional mortgage (my credit history is not very old) so I’m pretty certain my best bet at getting started will be by working with a private/hard money lender.

@Kyle Fry The homeowner and I discussed how we wanted to proceed until it was good enough to get it in writing.

I would ride it out for this one as long as the work is good enough, but I wouldn't trust them again. 

You will need to know the AVR in order to know if its a good enough deal to wholesale but a work of advice, if you have to ask this question you probably arent ready to wholesale a deal yet.