@Freddy Hernandez Great questions. 1) Do you have to wait for a refi - Most banks will have a seasoning period of between 6 months to 12 months where you cannot refinance or only can refinance at the purchase price of the property.2) There are two limits on mortgages - Some banks will cut you off at 4, which is typically a Freddie/Fannie restriction.

It looks like the letter is a month old.An ordinary case of termites won't typically bring out a building inspector. 

Your LOI will have to state the amount you are planning to put down as a EMD within 2 days of signing the PSA.This is typically around 1% of the purchase price.You will also need another 0.5-1% for out of pocket expenses before closing.For a $20mm property, that is about $300k out of pocket before closing.You of course also need the credibility to be able to get the property under contract and the ability to close thereafter or kiss the  money you put up goodbye.

Maybe this is typical occupancy for Hawaii and I should take a seat, but those numbers concern me, especially in a high-dollar market like Hawaii.

You will need egress from the room which typically means a window well from my experience with Michigan basements.

Maybe if you had a bit more experience on typical contractor shenanigans , you could have gotten through it or if the guy wasn't questionable and got you through it, it would be singing a different song.  

The typical method of going through a real estate agent and using MLS doesn't seem like the ideal path (if only the easiest and most typical).  

You typically have to pay a 3% balance transfer fee, so transferring $28,000 for example, you pay $800 or so, but then the bleeding stops and you have between 12 and 18 months (depending on the offers) to pay with zero interest charges. 

typically, contract law dictates that agreements for one year or more must be executed in writing. an email response is likely not enough to fulfill the requirements of an executed contract

I really don't want to fall into the typical stereotype of the newbie who wants to wholesale and then flip and then accumulate rental properties, even though that is true I want to solely focus on wholesaling for a while and really master it.