My suggestion is to get really good at estimating ARV, or the price the property will sell after it is all fixed up, and allow there to be sufficient returns for the end investor AFTER you also take your wholesale fee out. 

Think about it:  at the end of thirty years you will have a property free and clear and it didn't cost you anything to pay back the loan (yes, assuming you keep it rented sufficiently, your maintenance costs aren't too high, etc..).  

Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

It boils down to you having sufficient knowledge of construction costs and practices to ensure that  your projects are properly priced and executed.

Meaning if Wholesaling is bringing in 10k a year, and you can't save any of it--maybe get a W2 job (and a 2nd W2 job) and sleep on a relatives couch for portion of the utilities and a portion of their rent.If wholesaling is bring in $10k a year vs. for instance Minimum wage in California is $15 hour which is about 4 months work full time to make $10k --consider where you can make the most money.Good Luck!

Sufficient insurance, cash funds, financial reporting, etc.

Either you’re getting a creepy shoot the place up vibe or you’re too worried about what you don’t know to ever get any sleep the rest of your life if you buy this. 

No technique is perfect.If worst case scenario develops and lender does become aware of and chooses to enforce due on sale clause, almost all states provide sufficient time to obtain a “take out” loan.  

Heard this one this morning and loved it: "In the morning you have a decision to make, go back to sleep and dream your dreams orrrrrr wake up and chase them"as always Hustle and Motivate 

I’ve got a very large umbrella policy to cover liability right now which might be sufficient for you starting out.