Do more research than you think you need becasuse its easy to make mistakes and its even easier to get taken advantage of by greedy sellers.

I send the sellers letters to fish for future deals and I send the buyers letters to help build my buyers list.Of course those wholesalers that are assigning their deals won't show up in public record.

I've done a few seller finance deals (on the buying side), and it shouldn't be too expensive, maybe $1,000 tops.The terms are whatever you guys agree to. 

Ellie - obtain the funds needed to acquire the property  from friend / relative ...pay seller the  cash ...have a private note set up between yourself and donor)   with specific  terms  for repayment ...make sure the  rate  agreed to is  a realistic  market type rate ) and also make sure that a formal lien is  filed for the loan  and also make sure you formally go into the title  .........I would suggest making a separate agreement / arrangement for the  funds  you are  borrowing for the  construction ...... 

Then propose seller carry back financing as a solution to the seller.

Only problem is the seller wants $2000 EMD and no option period.

Your contract paperwork will tell them.For example, say you have a Purchase and Sales Agreement with the seller. 

General overview, then the question(s):-Seller outright owns two condos in the same community; no mortgage.

If it's a good enough deal tell the seller that you'll deposit the $2,000 when you have your end buyer in place. 

Thanks for the motivation @Henri Meli, and great idea.