@Joshua Lee WegnerThere are 2 ways that people do wholesaling.1st method - They assign the contract to the ultimate owner.You are simply collecting a fee from the buyer in exchange for the contract.You will never own the property using this method and as a result shouldn't have to pay any closing costs.2nd method - double closing which is you will purchase the property from the owner/seller and then you will sell the property to the ultimate buyer.You will pay for closing costs(title work, transfer fees/taxes, etc)You will likely net less income using the second method which is why a lot of wholesalers prefer the 1st method.

Why cut off your nose to spite your face by pushing the seller to do more than he's interested in doing?

I'm very young to the game of renting and life itself really, I know that the grass is grown up a lot and I'm unsure if that will cut down on the true cost of it, but I assume roughly $3000-4500 for the 1.25.

A few considerations:Cost - I anticipate having relatively significant resources and want to live in highly desirable locations, but at the same time, I want to cut costs significantly from my lifestyle in the LA market. 

But I didn’t buy or pay anything yet, just simply signed the contract, so I thought I had time.

@David Clinton III simply by finding a deal at a price I can’t I suppose

The heloc is simply a second mortgage that gets paid off in the sale and affects how much cash you have for reinvestment. 

if your tenants are month to month, then you can simply terminate the rental agreement.

Even Redbox is viable simply by removing a single additional step by bundling Redbox with one planned trip to the grocery store.

portion of my post which was cut off in the quote above.