I agree with the others who have said getting a second job is better then wholesaling.

I agree with the other commenters.

They agreed the next day but asked if I could close prior to Christmas.  

My wife and I used to do flips in this area, and I have a couple listings along with long term rentals I manage in the area..For the co-host, they typically do not handle permitting and other items like that (this can be agreed upon between you and the co-host.

But a bedroom or a bathroom can be easily qualified in terms of dollars (I usually see $4,000-$5,000 allotted for differences in bed/bath count).Truthfully, if I can't find easy comps and if I can't make it easy for the appraiser to agree with the value I'm looking for, I just don't buy it.

We agreed to offer a first month's rent free to help stir some business. 

Then you agree to buy them out for 1/2 the difference between $650k and cost?

@Kent FordI agree with @Ryan Konen regarding areas like San Antonio’s outskirts, parts of Fort Worth, and growing cities like Tyler and Lubbock, which are becoming popular due to relative affordability and job growth.We will see an interest in smaller metro areas where prices are more accessible and a surge in new construction aimed at entry-level buyers.

If the seller owns it free and clear and/or has a lots of equity, see if he will agree to owner finance it to you for smaller down payment.

Forcing the seller to sell because they initially agreed can be a recipe for disaster later.