Lately I’ve been considering wholesaling as I’ve heard it’s sort of an easy, low-cost avenue for beginners. 

They have twice given me notice that they were prepared to initiate eviction proceedings at the owners request, due to late or incomplete  payments.

The 5% of the remaining balance late payment fee is a little much IMO. 

If Tenant is late in the payment of any installment of Rent or Additional Rent, orin violation of any other covenants or agreements set forth in the Lease (a “Default”) and the Defaultremains uncorrected for a period of _____ days, then Landlord may, at Landlord’s option, undertake any

I think late 2023 was supposed to be the first year we saw profit. 

Their children (now in their late 40s) inherited the house, but they have not listed it on the market, and I heard that neither is willing to move into it from their current setup, so the property has been sitting vacant.

When I tried to get it when my side of the family found out and tried ti take over reverser mortgage payments to bank because she had died it was to late so they sold the house to Hud and then other reverse mortgage companies but a relative still lives there so they can't kick them out.

She had a lot of lease violations, late rent, etc.

10) Knowing what to do if tenant is late on rent or doesn't pay.There's a lot more, but many here on BP self-manage and learn via "trial by fire".Of course, you can always hire a Property Management Company to handle it for you.

Dang too late.