Well said!

They have stolen my money as well as hundreds of others.  

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

House needs some Interior Cosmetic Work, Wood Fence Repairs and some Plumbing Work.I want to turn and run, but I recently heard where there is a Problem, there is Opportunity.I thought this might be an interesting Case Study.Thanks for the Ideas.If they owe $180k on a $210k property and its a year+ behind then they probably owe taxes and other bills as well.

Just run your numbers well and make sure you are in an area without prohibitions in place. 

Of these professional wholesalers, nearly all of them will be well capitalized professional real estate investors or large businesses doing hundreds of deals annually with many years in and around every part of the real estate investment journey.

Realistically you would expect the house to continue to appreciate during that time as well... even if at 3.33% appreciation - that is another $50,000 in appreciation you would make in the 3 years - give or take.  

Well.  

.: I haven't passed this past legal review so for what its worth: Part of my standard requirements for everyone include income is at least 3X rent, minimum credit score, say 640, Clean record and no evictions as well as deposit is paid in full at signing of lease and 1st month rent is paid in full prior to handing over the keys.

It seems like you have some very solid goals of multiple income streams, and a well calibrated risk tolerance.