In this market, in this area, finding a wholesale deal that you can mark up and still have enough meat on the bone to pass to an investor is rare, but can be done.I recommend a variation to this. 

That would land me at a $2000 mortgage, rental rates in the area are $2000-$2200 so that really wouldn’t be ideal if I’m trying to rent it out and decrease my living expenses.

I may ask other questions to probe ethical opinions when appropriate.Depending on where they fall on my personal assessment I begin explaining the deal they have and their responsibilities and ask how they will meet them.To documents, I'll accept their tax returns and check them and their bank statements.

I would send a courier or I would go pick up checks.These arrangements were not a business strategy, they simply fell into place, I didn't really seek out the property but became aware of them or there were loan issues.As to the meat of your transactions, your outline is pretty vague in saying you secured a couple contracts.Realtors do this every day, they locate listed properties, but they usually walk through them to CYA in their representation or at least drive by.

A title agent set these up for me at closing when I sold houses like this.

So i will use them when my banks have me at max debt.

Now granted this is just my personal opinion, but there is a new trend out there of raising the money and then the project , but to me at least that seems backwards.

Evolve handles all pre-booking inquires for me anyway and since they release the info after booking completes that is the only time I even know there is a guest coming anyway, so nothing new for me at this point

It doesn't seem like a good idea to me, at least. 

That puts me at roughly $1900/month payments on the hard money and 53k due at closing.