The operator is excited about the location of this facility because it's at the intersection of 2 county roads with good traffic, but it's set back on 33 acres in a very quiet, peaceful setting.  

I assure you they will be a pain down the road if you rent to them .

I've been living on the road for the past 9 months with my long time girlfriend who is a travel nurse.  

I would like to team up with someone in the area who is already doing this or someone who would hold my hand and Guide me in the right direction to get this show on the road.

Admittedly, there are much easier roads then the one I took - but it doesn't matter as long as you keep your focus.Good luck!

I'm an agent here in Hampton Roads (Coastal) Virginia and a former wholesaler.  

Another option that popped up was to cash out with a portfolio lender and then refinance for rate/term down the road, but this strategy suffers from the same issue as the DFE - closing costs and loan points will negate most of the benefits.  

In my mind "helping them out" further infantilizes and insulate them from the realities of their financial situation; allowing them not to learn from a mistake, but kick the can down the road and enabling them to potential make this same error again.

I've been following this thread, and others, and wonder - amidst all those newbies who are looking for that get rich quick golden egg, there's some who choose to enter this Real Estate arena as a wholesaler without the full blinders, knowing it's a hard road (maybe not just how hard, granted, but knowing it's not an easy walk) and you need to get some contacts and teaching and mentors - how do the serious folk choosing wholesaling, wanting to use their time and skills to assist investors, how do they *not* get dismissed outright as we're all smushed into the same grouping just by using the word "wholesaling"?  

Of course this will all depend on where you are, what house you pick, etc.So a 'starter' type Menards kit might run for $90,000 or so, and might be a cutesy little 1200 sq ft house with middle of the road finishes.