What I’m lacking now is experience and a sound plan.I have been working to get into wholesaling and I feel as if it is eating away at my cash, seeing as I am a college student and completely independent I feel irresponsible for burning my cash when I have my bills to worry about.

However this would eat all of the cash reserves I have for the down payment so creative financing seems unlikely. 

I can't help but think a recession is still a ways off due to the labor market, the insane salaries that are being paid, and the way everyone continues to eat out despite the astronomical dining costs.

I agree you should try and go with GC that has their own sub contractors, if possible to limit undue delays that can eat up money. 

Can’t have your cake and eat it too!

Or eat it. 

A $15k property is going to need significant work in order to make it habitable AND to avoid long term problems (some rehabbers just do the absolute bare minimum but that inevitably leads to significant repair and maintenance costs in the long run that eat up your cash flow and then some.)

.#3 If I felt like they were paying other things, such as shopping or eating out, before rent I would evict them immediately. 

They will eat into your profit.  

If you do a cash out refi, your new loan repayment is going to eat into the cash flow for either property.