While they are touring, inquire about what businesses they plan on running out of the property.

Are you planning on taking out a loan for other property purchases?

I do not want spend my W2 income to cover house mortgages, to not have pressure if things like layoffs will happen, so my plan is to buy house in a good neighborhood that may have appreciation and some minimal cash flow after all expenses (management, maintenance and vacation).

Unnecessary costs for a cash-out or HELOC doesn't make sense unless you plan to live in the house for a few years.  

I wouldn't even bother asking for comps or how much they think the repairs are, it doesn't matter what a wholesaler comes up with, a real buyer will know how to assess on their own how much the repairs will be and thus how much they can pay for the house depending on their business plan (either to fix up and rent out, or fix up and flip/sell). 

- What do you recommend as my game plan to land my first rental property within 12 months? 

This year we plan on doing several spec houses assuming we can get financing lined up.

The plan is that I would refinance after the property rehab to pay off the HELOC and the rehab costs, then probably just keep it as a DSCR loan or refi into a 20% down conventional.

Does the real estate attorney take care of all the paper work ? 

- What kind of plan are you buying?