If it is not a super lien state how does this effect the first lienholder?

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Hey Jacob, Generally wholesaling is finding a suitable investment property, contracting to purchase it effectively taking it off the market, and then marketing that property to your buyers to assign them the contract allowing them to purchase the home.

I don't expect this to be a big money saver for me but some might use it for the effect and that decreases my cost just a bit.  

It's pretty much having a cap rate of at least 37%  and then doing the ladder effect with all the money made off the rentals and put them in more rentals.

A good partnership should have a multiplying effect due to everyone bringing unique skills and strengths to the table.

If you will use a PM, have you interviewed and selected one?

So as of right now my biggest issue is finding an established FHA lender who understands how the loan works and is effective in securing them. 

You are effectively "hacking" your biggest expense--housing--by having tenants pay for it.  

Lowes has a 'style selections natural maple' that we like to use and it's only $1/sq ft