If you say your a cash buyer and your not.. which is 95% of what beginner wholesalers are and you don't specifically tell the seller that you have no financial ability to buy and your only interested in making an assignment fee.. and if you cant assign it your not going to close.. that's full disclosure.. short of that your entering into contract in what is calledFraud in the inducement.. the attorney is just writing the contract they are not defending you when you don't close and walk away.  

If you promised the tenant you would have them installed to have them sign the lease, then I think they deserve some kind of solution from your part, but you didn't go into those specifics..but nevertheless, I would be pretty bummed if I were your tenants..It may not be grounds to terminate the lease, but it would be grounds to have a pretty foul relationship with your tenants..

That's why raising their rent might induce them to leave and prevent you from having to decide.Let us know if you kept them and if so, how that decison works out for you.

"Consideration" does not include amounts imputed as a down payment or fee to the distressed home purchaser or a person acting in participation with the distressed home purchaser;(3) Enter into repurchase or lease terms as part of the distressed home conveyance that are unfair or commercially unreasonable, or engage in any other unfair or deceptive acts or practices;(4) Represent, directly or indirectly, that (a) the distressed home purchaser is acting as an advisor or consultant, (b) the distressed home purchaser is acting on behalf of or in the interests of the distressed homeowner, or (c) the distressed home purchaser is assisting the distressed homeowner to save the distressed home, buy time, or use other substantially similar language;(5) Misrepresent the distressed home purchaser's status as to licensure or certification;(6) Perform any of the following until after the time during which the distressed homeowner may cancel the transaction has expired:(a) Accept from any distressed homeowner an execution of, or induce any distressed homeowner to execute, any instrument of conveyance of any interest in the distressed home;(b) Record with the county auditor any document, including any instrument of conveyance, signed by the distressed homeowner; or(c) Transfer or encumber or purport to transfer or encumber any interest in the distressed home;(7) Fail to reconvey title to the distressed home when the terms of the distressed home conveyance contract have been fulfilled;(8) Enter into a distressed home conveyance where any party to the transaction is represented by a power of attorney;(9) Fail to extinguish or assume all liens encumbering the distressed home immediately following the conveyance of the distressed home;(10) Fail to close a distressed home conveyance in person before an independent third party who is authorized to conduct real estate closings within the state.

Just know that Charlotte is not the most inducive environment for house-hacking.

@Joe Funari I am in Houston and getting a little bummed out by the high tax rate here.

I understand that I don't need to show up looking like a bum, but I find it weird when people try to dress to the nines.

That was induced by crazy lending practices generating a huge surplus of demand.

You want to talk about a totally bummed out newbie investor guy lost 150k with no hope of recovery.

You're stealing equity.Then there's "fraud in the inducement", where you enter into a contract to buy the seller's house when you have no intent to actually do so.