Here is Fannie:Permissible Exceptions to Continuity of ObligationAlthough the following refinance transactions do not meet the definition of continuity of obligation, the new refinance transaction will be eligible and not bound by the limited eligibility parameters described below if any of the following are applicable: The borrower on the new refinance transaction was added to title 24 months or more prior to the disbursement date of the new refinance transaction.The lender documents that the borrower acquired the property through an inheritance or was legally awarded the property (for example, divorce, separation, or dissolution of a domestic partnership).

A conventional "Delayed Financing Exception" Loan should be able to be obtained immediately, but would only be for a MAXIMUM of what you paid for it including closing costs.

However, I am very unsure as to what options are open to me for mortgage finance.  30 year rates look exceptional, but am not aware if I can avail of these facilities.  

I've found numerous exceptional empty lots on my county's tax website and by driving around.

Will I make that exception for every property?

We talk about FHA+MFR for countless hours each year, but I can count on one hand the number of these I actually do in that same given year in SoCal / Bay Area (eg, excluding rural California).And for that handful, it's typically a slightly different formula:[ FHA + Off Market + Discounted Price + 2-4 unit = win ]Ain't nothing I can do as a mortgage guy to make FHA not FHA except give you pragmatic advice.

A virtual wholesale deal is like any other deal, with the exception of directing people from a distance.  

If your rates are not at market you are devaluing your investment property, except in the case of SFHs which will resell at a higher rate if there is no tenant in place at time of sale. 

I would like to know from Massachusetts wholesalers, which list do you reach out to and how do you locate such list (except the specific websites)?

There is no set term in the mortgage except for a "reasonable length of time."