New Jersey has high property taxes, but nearby Philadelphia has very low taxes with a positive economic picture (in the larger metro area) and good investment opportunities, low vacancy rates, and an appreciating market still early in the recovery cycle.

Find a vacant house and contact owners.They've been kicked out by the bank under power of sale.I feel that the house is worth 150k as-is, 10k in updates (not big repairs) could make it fit into the 190k market comparables.Owners owe 110 on mortgage and 15k in recovery costs, 3 years left in term.I write up a lease-option contract with the owners where I pay them a 15k down payment (to knock off the recovery costs) and "rent" the house from them for the costs of the mortgage plus taxes, taking responsibility for the utilities (effectively $0 cash flow for them).

After 8 years of recovery from a devastating bottom, the Market here is at a Top.

There is less inventory, and appreciation has occurred, so you are correct in that there are not as many deals and price points we were seeing a few years ago, but I believe that is nationwide due to recovery, appreciation, and not enough sellers for how many buyers are out there.

Add onto the that RE is at the point in recovery when everyone realizes its a "safe" investment again.    

I'd either get my attorney to compel them to complete the sale of the parcel including the cell tower in accordance with its terms of transfer with the sale, or I would cancel and walk and file an action for recovery of costs and breach of contract and bad faith dealing.  

You may be able to use licensing laws to force the wholesaler's hand, or the threat of suit to gain some recovery. 

For example Multifamily (or MHP's) may be in Recovery in Reno and Hypersupply in Charlotte while Self Storage may be in Recession in Philly but expansion in Nashville.  

So far I see no lawyer fees and it seems like he is going to try to get that from the tenant.Speaking of fees, how does the recovery for damages owed work?

They are a numbers game and you need to be able to throw a bunch of cheap capital at a large pool and then hope to have a recovery rate that gets your money back, I frankly think they are fairly bad investments.