Seems like this was the perfect opportunity to get some experience under your belt.

@Lydia Bolling most of the hard work can be done anywhere you have an internet connection so your lunch hour and after the kids go to bed are perfect times to do research, if you don't have enough time maybe the solution is to narrow the search so that you have less properties to sift through

Based on your goals, desires and budget; their may be another better real estate strategy than wholesaling or wholesaling could be the perfect fit for you. 

Was feelin super down in the dumps today and this was the perfect pick-up.

Perfect.

No home, in my opinion, is ever perfect and if you can negotiate the price, after the inspection is the best time to do it when everything has been brought to light.

You'd need everything to run perfectly for this dog to hunt! 

"we want 123 Main""It's a short sale, do you know what is entailed and the odds of actually getting it are slim (long explanation of the process)""We don't care it's perfect"Then for 4 months I get calls with the frustration building as the time goes on, my answer is the same"The bank has said nothing yet, we are still waiting.

@Ibn Abney Thay makes perfect sense and is definitely helpful.

This would be perfectly fine and something we recommend if a parent wants to 1031 into a house for a child - Make a lease, collect rent, declare income, and then gift back to the child if you really don't want to collect rent.It sounds like the way you've done it is a little fuzzier.