Generally a lender might take 90% of the BPO value that comes in and write down the rest.Verbal versus written contracts vary state to state.

You're far better off working with tenant/buyers directly.As for costs, that all depends on the rules of your local MLS and your broker.

Hey Darron,Depends on what you mean by Wholesaling. 

It all depends on what you want to do.

Depending on the neighborhood, parking in Chicago goes for anywhere between around $15K - $50K.  

Depending on the town in Jersey you might find it easier to rehab than build.

Is it dependent on loan-to-value?

Really the documents vary and you are correct in opining that the deal does drive doc preference as do state/federal statutes/regulations.Regardless of how helpful, clear, or informative a broker or lender is, I would think it's best to have local counsel review the closing packet.

I don't think it will take you longer, in fact, I think it will be faster than what you proposed and less risky.It's less risky, because your plan depends on your properties staying the same price or appreciating in value.

The answer is it depends on what your intent was at the time of purchase.