Do you agree with me that they should sell at essentially any "reasonable" price?

In a reasonably short time, you'll get a much better sense of what's acceptable work and what isn't before you give the go-ahead to paint.

@Harry Walker and @Ryan BlakeYou're correct, there is a lot of confusion here on BiggerPockets about wholesaling and one of the main reasons is people use the wrong terminology which makes understanding impossible.Just here, you're already talking about 2 very different types of transactions.1.

The reason I come here to ask this question is because when I go onto the website, it says that a full withdrawal is not currently available.

I just started working as a leasing consultant (background in accounting), but things are disorganized and I have reason to believe they will be replacing a couple of people soon. 

Great tenants are hard to come by so I am always a proponent of working with great tenants to keep them happy within reason.

The reason I think it’s a deal is because I have been able to get to him to agree to seller finance 1,400,000 for 3 months.

I am looking to stay below 60k and looking for some reasonable cash on cash returns. 

My sense is there's a reason for that.I'd be a bit concerned that some type of failure could result in water damage, in addition to the risks that you mentioned. 

=)Most Southern Californians are perfectly happy purchasing their first piece of real estate to "achieve the American dream" or for another emotional reason.