I'm lucky in that other CA investors I've talked to had much bigger issues: tenant going through eviction process stole all the appliances and water heater and PM was negligent.

From what I can gather, wholesaling seems to be possible, but my question is how possible (are realtors aware of the wholesaling process and/or its loopholes, or do I need to be the party knowledgeable of a certain contract's legality)? 

So psychology, patience, stress, and fair market value to get the offer to accept is just a process.

The system is designed for the warranty provider to make money.

They should be able to provide you with the form and walk you through the process- I've done this a few times and I think the filing fee here is $15 or so. 

@Mack Owens check this out “SERVICING: D1-4.1-02: Allowable Exemptions Due to the Type of Transfer (11/08/2017)This topic contains information on allowable exemptions due to the type of transfer.Unless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:~ the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).Note: The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.”

Replace the mortgage payment instead with a monthly rent payment, add up all other expenses, then subtract from your reasonably numbered monthly gross income based on market trends for nightly rates for your size property with similar design and occupancy rates of the area.Once you get this number add up the yearly net income and divide it by total cash invested and you will get your ROI number to tell you if you think it will be a good investment or not. 

You could repeat that process every year and essentially leave a “wake” of rentals behind you 

There are free tools online everywhere, but basically you want to do the following:Gross Potential IncomeLess Vacancy= Gross IncomeSubtract the following expenses:Real Estate TaxesHazard InsuranceLiability InsuranceMaintenance (yes, even if you plan to DIY)SuppliesProperty Management (yes, even if you plan to DIY)UtilitiesLawncare/Snow removalLegal Costs (evictions, LLC formation/maintenance)Bad Debt (non-paying residents)City Occupancy LicensesPayment processing fees (for debit/credit cards)This will get your Net Operating Income.Then subtract debt service. 1st mortgage2nd mortgage (if applies)Line of Credit (if applies)This leaves you your free cash flow.

Providing a W-9 helps ensure accurate and timely processing of tax-related documents.