Some banks have different requirements, but two that I work with structure loans as follows:Bank 1:  is a local portfolio lender, requires a 6 month season period, does 15-20 year notes with 5 year variable interest, super quick turn around on refinancesBank 2: is a credit union that does commercial loans, doesn't require a seasoning period, but does require a lease to be in place, does 15-30 year notes, rates vary depending on note term, and they will allow a 10 year period before the rate changes, super slow turn around on refinancesI opt for option 1 because I don't like to be slowed down for 3-4 months waiting for a refi, but I also have a great relationship with my bank, and tell them what other lenders are doing and see how closely they can match the competition. 

Virtually all are in communities of 4-10 thousand people. 

Should I do this immediately prior to sending the earnest money, or should I send the earnest money, wait a couple of weeks and then do it?

At the very least, I would wait until the first of the month to enter the unit. 

I got an email with the following message from Zillow "Contact support for advertising rentals in communities of 50 units or more", I am still waiting on a response from them.I then tried to list it on apartments.com and faced an error saying that subleases were not allowed and to call customer support if this was an error, so I did.

There are already statutes and regulations regarding fraud and deception in real estate transactions.Educating people who want to be educated is fine, but if a governing body restricts the pool of ready and willing buyers, more properties will go to foreclosure and sit on the market longer.Real estate investors perform a vital function in every jurisdiction: putting properties back on the market, in good condition.Many of the properties they buy could never pass conventional lender's inspection because they typically require tens of thousands of dollars in repairs that most homeowners do not have or cannot do themselves.Additionally, many real estate investors near metropolitan centers can access almost an unlimited pool of funding to buy and remodel properties if the numbers work.From contract to close, the time can be in as little as 3-4 business days.The delay is mostly waiting on title companies.So when flippers mail letters and post cards to owners saying they can "close quick" and "all cash", that is a fact, not fraud.Of course, realtors will recommend you list your property – that's how they make money – so they are self-interested, which makes the report biased.Maybe next time you can have a "flipper" on you show for balanced reporting.The idea of anyone feeling "pressured" by getting a post card or flyer is ludicrous.If the homeowner doesn't want to sell, the solution is to throw them away.But the idea of "there ought to be a law" is equally ludicrous.If there are bad actors committing fraud, the answer is to enforce the laws already on the books.Out of all the properties posted for sale every 1st Tuesday of the month at the trustee's sale, a very large percentage never make it because they are bought by the very flippers you disparaged.If not for the real estate investing community, cities around the country would look much, much worse.My biggest complaint with your report is that you completely failed to get the rest of the story.Your editor needs address this."

not to slow down your enthusiasm.. however wholesaler is an advanced strategy and is pretty darn tough for some one just beginning.also many parts of the country its not like 10 years ago.. deals are scarce and competition fierce..just be careful not to put your self in a hole thinking this  is as easy as sending out a few thousand mail pieces..  

I've got a few "newb" questions...I have a few investor friends who are not buying anything right now - they are saying that, overall, prices are too high and that I should wait.

How about this. 1031 exchange several properties (or 1 big one) with 100’s of thousands or millions in depreciation and capital gains in to the edge of one of these zones with a fourplex or several?

I'm in the hospital, every minute, waiting for an update.I guess it could depend on the 'emergency' also.