This way we'd be able to get a great deal on our house, it'd be up to the standard of house that my wife wants since we'd be in charge of the reno, and we'd be able to force enough equity in the property to eventually refinance it out later when we move to possibly rent it out. 

Conventional buyers would be running.Be sure to comp this house with other homes that have sold after having extensive foundation work.If 159,00 is absulutely no problem then your idea to wholesale, in my opinion, is safest.  

If you lie with intent on a 1003 application which is a federal form, you can be charged with loan fraud, bank fraud, & wire fraud.

It sounds like any other sale, even though it is being done by auction.  90 days is Plenty of time to get financed, but you’d have to make sure:It’s zoned as residentialIt will appraise for your bid priceYou can have access for insurance and lender inspections/appraisals.It is in good enough condition to get a conventional loan, or you could take a shot at a 203k or Fannie purchase/Reno loan.The auction terms/details Should tell you if this is prohibited for some reason.  

As far as conventional financing, there isn't any way to get around the at least 6 month seasoning (some require 12 months) that I know of.

We don't charge or collect (or pay) a tax.   

Again, seems like she is charging you for what a landlord should pay for.

A good broker will FaceTime on site or send video walk throughs and will help shepherd the application process through, in addition to having specific local knowledge.FYI streeteasy started charging brokers to list rental last year and so it's not complete, particularly at lower price points.

I used this, plus $10,000 I had saved up, to buy 2 more rentals as a package deal with a conventional 30 year mortgage with 20% down.

Just listened to the BP Podcast with Matt Faircloth and Matt mentioned that banks don’t want to see anyone (or entity) behind them in second position.

Is this true everywhere or is it possible to provide a private ...