Transients, crack-heads and bums don't have the means to drop a couple K on a credit card for a few nights stay.  

I have spent the last several months on the verge of a stress induced stroke and a couple of weeks ago I decided "&^%* it, its out of MY control".Here is the summary.

A sharp seller would probably sue me for "fraud in the inducement" as well.The most common excuse for wholesaling goes like this:  "I don't need a license because I'm not selling real estate. 

So if something like this happened to me, I would do the following immediately.Send/deliver a letter to the "buyer" (with proof of delivery) advising that the contract is void due to his fraud in the inducement (cash buyer without cash); that I am preparing to file a lawsuit for slander of title (and other causes of action) and pursuing compensatory as well as punitive damages; and that unless the cloud is removed within X days, I am contacting the attorney general of the state as well as the real estate commission to report the fraud.If the cloud was not timely removed, I would hire an attorney and do exactly what I said I was going to do.

I whole heartedly believe in it because I am still yet to find someone that has said "I'm so bummed that I have this property that is free and clear 30 years later..."

Although it's true most SFR are pretty placid, the times when they are not are definitely anxiety-inducing, I agree. 

Is the person with a record a bad person or just got a bum rap?

He is out of induced coma and is stabilized.

@Jason Hartman BiggerPockets is great, but when I want info on Real estate economics, amazing strategies (inflation induced debt destruction blew my mind when I first heard it) and what is really going on in the world, I listen to your podcast!

An eight page contract will induce people to want to look it over or the dreaded, talk to an attorney.