In return his management time will be less, and theoretically can afford to reduce fee a little.

What are the gains if a wholesaler sells rental property

I'd guess I'd consider saying, "Tired of having the equity you've earned over the years tied up in that rental property?"

Can I deduct my rehab expenses from my 1099 wage earned at work, to offset my high income?

If it’s listed then part of the deal is the agents earn commission.

@Eric SuessYou may be able to potentially offset rental losses against business income to reduce taxable income.It won't decrease the amount you have to pay in "Self-employment taxes" though.

Since the refinance is typically a return of capital, the capital balance is reduced so the preferred return is reduced.

On the other hand it might be a very safe lien and you can count on earning your interest. 

Financial Advisors are among the least trusted professionals in America - and they've 100% earned that reputation. 

This is a good crosscheck to confirm income and expenses since owners have an incentive to under-report income and over-report expenses to reduce their tax liability.