Essentially, the ability to have your purchase price + rehab costs <70% of the ARV, so after you rehab you can find tenants & then refinance to get all of your cash back.

@Michael Sontheimer-  most  lenders will use your  the  scehdule E  from your  tax returns for the past  2 yrs  to determine the   rental income that is usable for  qualifying for a loan ....so  if you have the ability to make this  schdule as  healthy as possible  - you might  consider this  ....if the  rentals  have been owned for under a year - the lenders  may use 75% of the  lease  amount  

Any contamination can significantly affect your ability to sell the property.

Would it hamper our ability to sell the note?

You've got ability to charge a higher rate for the property as a whole gives you much more appeal than having a vacation rental with shared space.

However, there is definitely a demand for the STR in these locations and there are many communities that do not have any restrictions on these rental minimum.Definitely inquiring about the community CC&R's and regulations regarding the STR ability is recommended. 

We do not accept partial payments, as that limits our ability to evict if necessary.

@Trevor Lowe Depending on your credit/cash reserves how will using the savings affect your ability to get a conventional loan?

CRAP.Let me tell you about wholesaling my friend.The key to wholesaling (and ANYTHING REI related) is your ability to find off market motivated seller leads.

I've also had some subpar experiences when traveling for pleasure/vacation, when we've boxed ourselves into lesser options because we want a less common feature, such as ability to bring a dog, fenced yard, proximity to this or that, etc.