there is a house in my neighborhood that I believed is vacant, several tax liens, yard is very overgrown, never see any activity.

You’re betting on appreciation and choosing to lose money monthly (rather than increasing a down payment) to make that educated guess and keep capital in the bank.

I am not a legal advisor and you should seek advice from your attorney...just in case.OREC Oklahoma Real Estate Commission is looking into the possibilities of making Wholesaling a licensable activity.

@Tony C. remember the advice: "Don't bet long term with short term money." 

Your better bet is with the income from the business and adding back any depreciation expense you are claiming. 

Either go through the local forums here on BP, or find an active forum on FB for REI in your local area. 

I am not a CPA, but it also opens up a litany of tax advantages because you can now drive certain of your activities through the LLC as expenses-- mileage and gas, networking lunch/dinner/happy hour, repair costs, the list goes on.

I plan to actively participate on the forums and cannot wait to speak with many of you.

There is an active appraisal on the property for $440k that I have seen.

Philadelphia is currently seeing a lot of construction activity, development activity, and I would love to assist anyone in the process.