So, essentially the money from the ultimate buyer can NOT be used by the intermediate buyer to close on their purchase since that would be using money from a purchase that can not occur until the prior purchase has been completed.  

Over the past 2 days i have discovered timeline of events that have occurred since I owned the property.  

@David Dachtera I watched the video link you provided to see where the slight of hand occurs. 

Think through each aspect of a potential transaction, and how you will respond to the inevitable hiccups, problems, frustrations, and disappointments that occur in every start up business. 5.

For capital gains realized from fixed assets such as real property, only 50% of the capital gains will be taxable if the capital gains are reinvested in fixed assets such as real property during the year the sale occurred, the previous year, or within two years after the sale.

*Deal Closed**Normal aspects of the rental property business occur*Buyer: Cry Cry Cry Scam Scam ScamMake it make sense Ivana?

I suspect this occurred because the property had sat vacant for a few months.

If there are any anomalies that occur which require more expensive repairs then that ratio can and will be higher, especially in your first year or 2 of owning a property as you work to get things stabilized. 

The renovation costs may include a contingency reserve and renovation-related costs.Contingency Reserves:Contingency reserves 10 % required for any unforeseen cost overruns that may occur during construction.Unused contingency reserves that were financed into the loan will be applied to the principal balance of the loan.

However there is a payment due to cover material cost before any work can occur.