My favorite bad wholesaler trope is when they try to sell you a property, but then when you Google the address you see it on the MLS pending for like 20% less than what the wholesaler was asking for.

My concern would be that the tenant initiates payment on the first then I find out 5 days later they had insufficient funds. 

It's refreshing to hear a more conservative approach to real estate investing than is often addressed.

Any insurance concerns?

His address as shown on the company filing, the driver’s license, and the term sheet all matched.

Governments need to prioritise dealing with the route cause. having bought two tesla's I knew Musk was on to something.. he will be putting his solar roofs on all the high end homes.I looked at one for my Charleston 2 mil spec I am building but the historic district would not go for it.anything at a million I think the Telsa roof tiles will become standard along with a power wall and two tesla's in the garage.that is addressing the problem.One of my bizz partners has solar in Hawaii and I talked him into buying a Tesla.. he runs his house and car no electric bill.and elec. in Hawaii is highest in the US>for us in Oregon.. at 10pm our rate goes to 4 cents a kilowatt.. takes about 50 KW to fill my tank for the week..

Uptown is looking really promising...but it might be a few years before it gets to where it should be.The turnover would be a larger concern for me.

I know I could probably go hard money but my concern is being able to refi into a normal bank loan within 6-12 months because I'm certain my equity won't be sufficient by then, even if I'm reinvesting all profits, and especially since the payments will be interest only. 

I certainly hope you learned to address a city commission official by their proper titles and not their informal last names.

Which is why you are having a hard time.If it is your first property and you are not looking to do a flip, it is not worth trying to necessarily get the loan under an LLC.Most first time real investors don't have much asset (if any) to protect to be hugely concerned about the liabilities of owning real estates.When you get to a point where you have a lot of assets or significants to protect, you should start to seriously or solely considered doing it under an LLC.Scott Trench wrote a great article, take a look at it.https://www.biggerpockets.com/renewsblog/2015/06/0...