If you're going to attempt such a program, I'd suggest you fine tune the future sale price being to expected appreciation and allow some concession under a profitable agreement tying in any future appraisal, perhaps a percentage of the spread. 

Union City is also particularly sensitive about basement apartments: there was a program ~10+ years ago where many basement apartments were "legalized" to a third unit, but you'd likely not be able to get a certificate of occupancy today if you had to receive a new one because they don't comply with the current fire code (windows not large enough, no sprinkler system, etc.). 

TD Bank has a program.  

This only works exactly like this within Snohomish county, however, and only small percentage of local properties pencil out economically.There are about 200 TDR programs across the country.

So i have been interested in wholesaling and have purchased programs and watched hours of videos and my biggest question is: how did you know you were ready?

Regarding interest rates - again, this would vary from lender to lender, the same HML I know has some programs that are below 8%.

After doing a ground-up multifamily/hotel development in North Dakota, I paid $25k to join a 1 year coaching program.

I am looking into the mentor-ship program at my local REIA.

FHA loans are traditionally not score driven, but the 203k program does require DU/DO approval.

The answer is it depends...There are score driven hard money rehab programs that allow investors with mid FICOs as low as 550 to potentially qualify for a 65 ARV loan---there are programs that are purely equity driven and don't consider credit score/history in their decision factor...There are very few rehab loans that advance rehab funds in before the actual work as done (there is a program that will advance up to 10% at closing, but you need mid to high 600 score to qualify)---as you duly noted, most operate on the reimbursement model.