But you aren't collecting the $200k unless you already have the $200k to pay yourself a wholesale fee, unless I'm missing something.

I read it 3 times to make sure I hadn't missed something,Integrity is not in this person.

Am I missing something?

I suspect they were talking about difficult turnovers with problematic renters, bigger repairs, heavy cleaning, maybe some missing rent, and longer vacancies. 

What am I missing? 

I may be missing something but why not just borrow the hard money to buy the property at the lowest price and pay back the loan with his same payoff plan.

When I purchased the house, the second unit was already occupied, and I decided to keep the tenant.The tenant has been living there for the past 3 years and had not missed a rent payment until a few months ago.

I am unfamiliar with how long bond lasts, how sturdy it is over time, and will I be replacing this door jamb in 6 months even with a patch job done like this because it will look the same way and all wear down? 

Lease renewals have a strict deadline. if you miss the deadline and fail to request a rent increase, then you will need to wait until the following year. 

This time he, the investigator, showed me a door on the second floor was not secured, missing a handle, etc which was the case during renovation, but very hard to access if you had a ladder, and two windows that had old style brackets were not secured.