Depending on how much money you have (the money you mention is for you to live on), it could be enough for the 25% down and the reserves a bank would want to see but this becomes high risk pretty fast since you will be giving up a HUGE chunk of money you have to live on.Finally, Brandon Turner's book on no and low money down investing can give some ideas on creative financing.

I understand this situation is considered employer-provided housing and contingent on him doing the work.

You'll likely have more opportunities with going after listings, since you don't have to convince the seller to take a low price but you still get paid when they sell. 

Your vacancy and repair estimates are low, you aren't budgeting for a PM which will be a HUGE headache out of state, and you aren't budgeting for CapEx.

I'm looking to get started wholesaling soon, and have been studying Brandon Turner's "The Book On Investing In Real Estate with No and Low Money Down".

Historically, every time we see low unemployment it is followed by a recessionNow we hit a 17 year low for unemployment rate, so what does that mean?

I am looking at getting an FHA or VA loan to fund the property with the low to no money down financing (since most lower end homes will be 300+K, so that means 60+k down payment).

That being said, Id rather lock in more debt at historically low interest rates than pay 2 or 3% less for a property while paying a 2% higher interest rate.

@Andrew Kerr area is not a warzone, just low income. 

A few things I noticed (1) you didn't include gas in your expenses (2) management expense at 6% seems low - I've used companies <10% before and I paid for it (3) billing back utilities via RUBS (Ratio Utility Billing System) is a legal, extremely economical way to bill tenants their fair share on a master metered property, however, make sure your state statues support it and is fairly commonplace with your competition.