Kinda like buying a 10 y/o used car, keeping it for 3 months, then selling and warrantying to the next buyer that no prior owner has ever wrecked, flooded or otherwise damaged the vehicle.

I went and looked at them and they seem great - decent houses in nice neighborhoods, easily as big and in same style as others near it, need rehab but not so much that they're real wrecks.

The tenant could wreck the place.

I put a disclosure that I am the principal in the transaction not taking a fee.. and I am buying for PROFIT or LOSS  … they sign and acknowledge that.. and if they want to sell for what I want to pay .. deal is done.if your think your going to tell someone their house is worth X when its really worth Y just so you can make a big spread that is greater than your commission or tell them your not taking a commission.. then that's your choice..Although do keep in mind most wholesale deals are distressed wrecked houses that need rehab etc.. and commission are negotiable.. there is no law of charging a higher commission for tough to sell properties.. if that is what your aiming to do.. 00I worked a builder out of a 22  duplex's he had built was having a tough time selling.. he wanted 30

Likely you’ll want to pay that off otherwise it can wreck your credit

And I’ll then carry a Balance on my credit cards so I don’t wreck my credit.  

Wish I knew this information ahead of time I was shopping for a Vehicle to see what kind of payment they could work out for me and some places ran my credit and didn't even ask me i didn't know they ran it till they said "I just pulled your credit" my credit dropped 100+ points in a 5 day period wrecking my credit looking for the right vehicle and payment plan. 

Also, the supended ceiling in the basement clearly is wrecked from water damage, although during inspection no source could be found and above the ceiling everything looks good. 

Are they wrecking the place or something?

Obviously don't wreck yourself but if you can get the seller to move down a little bit, then it may be worth it for you to take a little less to figure out the entire process.