Some asset based lenders can generate a pre-approval letter up to the amount that you qualify.

At a 7.5% APR, I could end up underwater by about -$1,500/mo.

We have been posting on zillow, cozy, and craigslist and have generally responded to inquiries with caution (asking for a pre-screening before even doing a showing) and would be grateful for any additional guidance.

We have a pre-approval, and I am not concerned about getting the deal financed.

- they do a pretty good job providing a pre-boot scan.  

Max, let the numbers be your guide; do not start with a pre-conceived technique, property type or location.I wish you the best.

A pre-approval is not a loan commitment.

I plan to live in it in the winter months (October - Apr), and utilize it as a vacation rental in the summer.

When I asked the wholesaler for his side of the story, he told me that they had put a pre-auction bid on the property which was tentatively accepted and they were just waiting for title to clear. 

Your allocations of each payment to principal and interest will be incorrect, your APR will not be very easy to compute within the required tolerance, less than one eighth (.125) of one per cent and there is no tolerance for finance charges.