do not let a contractor get yayou need someone licensed bonded and insured if you allow a handy man do the work and or you do the work and something goes bad you will be liablemake sure you find the above get all the permits that are required and save yourself a lot of heartbreakthere are to many stories to list from this forum alone of shady contractors and the owner flipping the bill or even loosing the propertyyoull find the right person for the jobcheck angies list or home adviser to get a foot in to see whos out thereyou could also go to your local lumber yard or plumbing warehouse and see if you could find a referral for a contractorenjoy

I would strongly advise you let it go to forclosure and attempt to buy at that point in time.Your goal should be to help yourself not your friend.

I am also hoping to find some success stories from investors who have wholesaled and how they started and some advise for someone who is just starting.

I haven't done any business in the East Mt Airy section in a while so I can't provide any concrete advise on the rental market for that area off the top of my head. 

@Will PritchettGreat advise, thanks!

I'm thinking I can wholesale this for at least 18,000 and max around 23,900. please advise. 60 day close, and I've already generated some generic interest in the property. thanks!

Thanks @Annette Hibbler, @Daniel Harnsberger, and few others who have welcomed me and gave me tons of advise already.

This particular contractor was shady (tried to get paid earlier than his schedule, claimed the property passed "first inspection" while all they got was a permit, etc....)Please advise how I should move forward as I am meeting him tomorrow.

I plan on talking more with my financial adviser but thought I would do a little research beforehand. 

I also would only be able to get together a few thousand dollars in 2 months to cover closing costs, but not really any other money to 'put down'Do you advise, instead, that I do an FHA streamline refi, save my money (working my regular job) and in 2 years, try and refinance then (or sell and purchase another property)??