I know the development process and have good contacts on the civil engineering, site work and GC side. 

I am currently in the process of figuring out what I can afford and where the money should come from.

The house was structurally sound, but the mechanicals were very dated and the property needed a minor facelift ($7K).

-Honestly, I think you may be over-investing in the existing structure. 

So I am trying to learn or understand the actual process buying from a wholesaler.

Is it a similar process to probate?

Agency loan processing at 5.5% fixed interest rate.

So the steps I recommend to do this would be to talk to a few lenders first, get an idea of what their process is and see who you enjoy working with, look for your investment properties, and get back to the lenders so they can appraise and approve/disapprove the loan.

>> Are there other deal structure that I can present without I bring any fund and will only provide the value and management?

More than anything I want to get the house rented so I can get into a new place and start the process over again always saving for the next 5% down payment.