I was worried the tenants were going to smash the house after I left, but it does seem like the simply left after my departure. 

I simply send the background and credit check to the tenants and they have to pay the charge through the check.

I wish you well, simply make sure the area is right, otherwise the deal could sit on the market for a long time and the hard money lender will be the only one who makes money.Lastly, be very careful with the contractor.

However, unless I was to go the private financing route, I simply wouldn't have the capital to rehab a house myself yet.

It's really hard to get an idea of cost without someone actually going out to bid the job (not knowing the size, location, grading for the lot, whether you need to add curb cuts to enter this new garage from the street or if it's from the alley, routing utilities, etc).  

utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)Simply, expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the BP Podcasts, #askbp Podcasts, BP blogs and BP webinars.

Even simpler than all of that is entering into some type of partnership agreement with him and splitting ownership however the two of you work out. 

The tenant may not unreasonably withhold consent to the landlord to enter the dwelling unit from time to time in order to inspect the premises; make necessary or agreed repairs, decorations, alterations, or improvements; supply agreed services; and exhibit the dwelling unit to prospective or actual purchasers, mortgagees, tenants, workers, or contractors.

I have recently started studying real estate and I am preparing myself to enter the world of wholesaling properties in the Maryland area and beyond.

You already have some tools in your toolbox....no pun intended.Now, you simply have to work on the other elements to progress your REI pursuit.Ok, now that you have taken your initial step, below are some quick links to get engaged. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/invitesREI books suggested by BPershttp://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?