THAT is the smell of MONEY my friend!

The house smelled and looked as if they were raising livestock in it and it was in worse shape than the gentlemen lead me to believe but what did I expect for the price.

The structure smelled like cat waste and many lower portions of wall gypsum had to be replaced, as well as other re-rehabilitation measures taken.I have never seen this with dogs--must be something about cats in particular that makes this happen.In this business we run into other mental health issues also, uber aggressiveness, suicides, etc...

I see other landlords around me in low ball battles, practically giving their properties away, 1 month free, no deposit, etc and I raise my rents every property based on having a newly rehabbed and updated property, and I may not get as many calls, but the calls I get are the ones who want to pay a little more for a better property. 

It is a little more work but after remediation, and proper ventilation, a good coat of Kiltz or a similar stain-blocker not only hides the stains but does wonders as a future barrier and helps mitigate the smell.

I appreciate the honest truths, I know it will be an uphill battle.

@Jacob White  well look at it this way.. if you troll around BP you will see post after postlike thisHey I am brand new I have never done a deal so I am going to start out wholesaling.this leads folks with their only education reading posts on BP which some are good some are bunk.and they simply don't know what they are doing... and they foul up sellers... big time. they deceive sellers big time... and then complaints are filed.. and the state takes actionvirtually every state has the same laws on the books some enforce it others don'tIf there was no need for a license in real estate to bring two parties together and then make a feethen there would be no need for a real estate industry at all....

This deal smells on so many different levels and if it were me, as others have rightfully suggested, I'd pause and renegotiate on all terms.  

Because it's so soon, I'm not worried about the fact I smelled weed in the unit despite the *ABSOLUTELY NO SMOKING* in bold print on the lease.

@Michael Prim I've been battling it out with the worlds toughest seller (88 years old, retired Army CSM, Korea/Vietnam vet and also a retired real estate broker) for 3 weeks now on a portion of his portfolio.