You are simply running a business, and it wont always be perfect.

The funding thing I know i have to get taken care...some of the wholesalers wont evn work with you with proof of funds.Has any one dealt with the buying pre/foreclosures in this area?

I did it once and wont do it again.

Just because your offer doesnt work for one person doesnt mean it wont work for everyone.

So I'm thinking about investing out of state, my issue is in have a 9 to 5 job and I wont be able to fly down to see the properties before buying them if their good deals, I wont be able to be there to close the deals and wont be able to be there to oversee rehab of the properties, is anyone here in a similar situation?

You absolutely wait until the rehab is finished, the property will rent for more, show better, you won't suffer from stale listing syndrome and depending on how long the rehab takes you may come out of the slow season between Thanksgiving and Christmas

I am worried a regular home inspector wont be able to identify this and I could be looking for costly rewiring for the rest of the house in the future which would make it uneconomical for me to purchase and could kill the deal.  

I think home inspectors serve a purpose but since I am purchasing the property with no concessions 'as is' and have budgeted in for several repairs the minor things that a home inspector point out wont really benefit me. 

If they are short on resources, customer service will suffer.

Other homes that wont have tenants in there fix up home and sell it to a new tenant monthly payments.