Your scenario is possible but not probable...admittedly I have never done what you suggest I've been the seller financing sales in my IRA, but I have read several BP contributors that have substituted collateral.

This is after all construction in Los Angeles, if you've never done it before add 50k.If you have $500,000 in cash I suggest you use it elsewhere, this years long headache is likely not worth the 1000's of man hours you will also have to put into it running your very own team of scientists.

If you are in the Tampa area and plan on purchasing there, I highly suggest you connect with @Josh Green.

Can anyone suggest beach markets in SC and/or GA that allow STRs and cash flow with 20% down?

I'm in escrow on a small multifamily (4-unit) in San Diego and wondering if anyone has suggestions for great property managers in the area.

I'm not too familiar with the markets yet but research I've done suggests that the towns of New Britain, New Haven and Hartford all have a good mix of inventory and low prices coupled with plenty of amenities, night life, cafes, etc and local colleges to bring younger people to the area year after year.

But as some one who was raised in this business has owned 3 brokerages I can tell you that only 10 to 20% of agents make 80% of the revenue wash out rate is high.. with Wholesaling I suggest that only 5 % who try it are still doing it in a year and in any given market there will be a handful of wholesalers that do pretty good to very good the rest just trundle along now granted if they make 50 to 100k a year in the mid west and were used to making 20 to 30k in their JOB this is a big improvement over where they were at..

Does anyone have a good effective 3rd party mailing company to send mailers direct to seller?

You should start with both of these suggestions. 

I have spoke with engineer yesterday and he also pointed the same suggestions.