I do find it odd that you are restricted on a primary residence.

You can end up in an odd spot where these previously disallowed losses are disallowed nearly permanently until either a) you are no longer a real estate professional and you un-aggregate your rentals or b) every single one of your rental activities is disposed of.I have one client right now with some material passive activity loss carryforwards, that the decision was made to wait to make the REPS related election until they utilize these loss carryforwards, so they don't become trapped. 

It may be, may, but odd's are time will come that selling to redeploy will be called for to retain the classification ranking at time of entry. 

I suspect the odds that the wholesaler did not misrepresent anything is fairly small.if your wholesaler is picking up the legal costs to pursue this so that you are only going to be out the time value of your earnest money, I think I would just sit back and see how this plays out.  

We saw the first AAA CLO lose money since the GFC 2-3 weeks ago, and as there are more defaults in CLOs from CRE the odds of a credit event become higher.

I find it odd that of the gushing replies that support this guru, most of them are people who have this as their very first comment.   

There wasn't as much systemization so we were always dealing with odd requests and we did what you did, tried to make the best of it and offer something fair.I think as operators we have become too scared of reviews (but they do totally tank you) and the companies should be able to review the back chats to determine if the review was valid.

When you surround yourself with a great team, are well-educated, and use data to make your decisions, your odds of a significant issue are VERY LOW.Continue to network with the awesome community here in Chicago, and you will stay on the right path.

Quote from @AJ WongWong: HI James, coincidentally just wrapped a convo with a community member about the exact strategy (and oddly location!).

It just doesn't strike me as that odd or out of pocket that an older, single mother of a disabled son can't afford 1500$ in rent.