HMLs can do a % down of the ARV and finance your rehab too depending.Refinancing usually has a 6 or 12 month seasoning period depending on your local credit union/bank and usually they require 1 year lease.Lenders- if you are going conventional, and have properties in your target market that would finance (ie no roofs that need to be repaired or major mold issues) then just start talking to local lenders and see what their requirements are. 

Basement sqf is usually not counted as living space for appraisals.

Often times buyers who are going to live in a Neighborhood of $100,000 homes usually don't have that 10k cash laying around. 

Lastly, I recommend reminding them about the description of the property as many dont read it or get confused and realize they really want 2 bathrooms instead of one, or really need there to be a dishwasher present etc... https://www.biggerpockets.com/forums/52/topics/522...Also the bigger pockets infographic on tenant screening is very helpful and easy to follow:https://www.biggerpockets.com/renewsblog/2013/01/2...In the meantime, work on getting good well lit photos of the rooms if possible to present best possible advertising.

is what makes me wonder if we are in a mania phase, which is usually what happens right before the bubble pops.

Usually it is done with a separate property management company.

Interesting strategy as I usually go the other way.

To find the local wholesalers, I suggest doing some research into what local Real Estate Investment Associations (usually via Meetup.com) are available and actively meeting.

I bit usual layout as its set back from the street with its own access lane and backs to a large apartment building and has taller wood fencing, but the owner has lived there for 12 years and is 73 now and tired of playing landlord with his neighbors/tenants - he has the usual tenant adventures going on right now, such as an eviction and probably isn't a thorough tenant screener. 

But on average, unless you are dealing with a warzone property or really terrible people, I think if you are honest with folks, tell them what your new plan is, and wish them well, you'll usually get things back OK.