Wholesaling is not real estate investing, it is mostly a marketing business. second, your concerns of legalities are legit and there are numerous threads on here about this topic, I suggest reading them and paying attention to the veteran and experienced investors, keeping caution on some of the other comments as many are self serving in this space.Here is the real meat and potatoes - wholesaling as a rookie is (in my opinion) even more difficult than doing a rehab flip.

Are you saying that construction loans that are performed by the home owner take longer to process / more difficult?

Assuming you have a good relationship with your parents I would say the most difficult thing is your plan to treat this as any other rental.  

I really do not see the market here subsiding and it is difficult getting in touch with current investors and landlords.

house hacking single family can be difficult Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

It's been difficult to find investor-friendly people that I can have confidence in.

Central Florida has become an area where it is difficult to find a deal that cash flow well with ROI above 12%.

As an agent I have worked with a lot of OOS investors and even if I refer them out to my contractors I see how difficult a cosmetic rehab can be for them.

When we purchased the property, the selling bank was very difficult to deal with and absolutely refused to allow us to have any utilities turned on during inspection, and now I can see why. 

In this extremely hot sellers market over the last several years, it is very difficult to find a lipstick deal with enough spread to warrant moving forward with it.