Wow, I hadn't realized that the bank had merely placed a lien on your 2nd property as the down payment on this purchase.  

I never said that it did, I merely said that as a corollary of what properties go for in that area are (if you were to buy in today).

Given what you've said and the mere fact you've already waived buyers contingencies you just might be at the mercy of the seller to allow you to cancel and then allow escrow to return your deposit.If you and your partners truly don't want to own this property then you should ask the seller to cancel stipulating your reasons.

This is merely for educational purposes, and you should consult a local attorney.

Then, try to find properties that will rent out for at LEAST 1%/m of your purchase price or more, not the mere 0.5% this one could get.

Sounds as if you merely scratched the surface.

I can´t imagine that you´ll get a major deluge, as it seems to me that the international real estate conversation is but a mere fraction of the overall content.

I merely suggested ONLY taking the deposit through a third-party escrow (see my quote at the top of this post)...The taking of a deposit isn't the issue...the issue is the wholesaler taking the deposit in his personal name as opposed to through escrow. 

With the former, you never actually own the home at any point and are merely selling your "interest" (contract) in the property.

Albert Einstein once said, " reality is merely an illusion, albeit a very persistent one."