I've been skeptical about getting the contracts that most people have been using because I want to them to be legit and explanatory so I am protected under any circumstance regarding the laws in New Jersey. 

@Zack Aguilera As of now that it is going into the policy binder (with circumstance of coarse!).  

Account ClosedNice to see you participating in the forums ... and the small step forward of dropping one of your frequent {stuffed} keywords from your post.The handling of a squatter vs a tenant will undoubtedly differ with jurisdictions, so the ultimate advice is to consult your legal counsel on the matter.The crucial distinction - at least here - that that a squatter had no legal right to be at the premises and is essentially in trespass / illegal possession of the property.  

My understanding is that under normal circumstances banks want the funds in the account for at least 3 months before being used for another purchase, aka “seasoned.”

So, it wasn't the wholesaling that didn't work, just my circumstance!

@William Walsh Regardless of the answer to my question, an appraisal may be prudent depending on your client's facts and circumstances. 

It is my understanding that this can not change unless there is a change of circumstance - which there hasn't been any. 

At least one of those 17 people is going to refuse to leave, and you should not under any circumstances try to evict them yourself.

Anyone have leads on a bank/broker who would work with us under this circumstance and still offer competitive rates? 

I already had a tenant lined up ready to sign a 1 year lease but after hearing about this family's circumstances I decided to meet with them and show them the house.