If you are planning on reselling the property in the near future, be sure to ask for a title binder.

Actually if the property is ready to go with utilities to the parcel, etc. you could advertise it as a Built to Suit. and working with a contractor, build a home on it to resell.

If Wells or BofA funds 100% of my purchase, they are not entitled to anything other than monthly payments or a full payoff when I resell.

If you could fix the property and resell it for at least all of the costs into the deal then you could have the rest of the land for free to then talk to developers about putting up some more homes or whatever.

I'm assuming by "wholesaling" you mean simply assigning the contract to an end buyer, as opposed to actually closing on it yourself and then re-selling it to another buyer. 

Hello Cydni,I buy/rehab/resell homes in the valley.

Purchase option= he has to sell to you and your partner only and you have the OPTION to resell to another party.

This is the overview of the deal.Property sell price $325K, (fair price, could resell today at this price)Down Payment: $125KLoan Term: 20 year amort. callable in 5, no prepayment penaltyLoan is for $200K. 

So I am debating these options and its impact on re-selling the unit in the future:1.

If you can get the price to about $45K ($51K minus the additional $6K), and it's worth $71K as-is, then I would recommend just buying and reselling as-is (or wholesaling).