Generally no set penaltyIf this is an REO, your contract states the bank owes no penalty, either wait or walk, there could be title issues, or just behind.

You can also get some feedback from other real estate investors and mentors.When investors call us and speak with one of our Investment Counselors, they help walk them through the thought process to help them define what their criteria should be. 

Monthly revenue should be $8-9k/month and an ARV of $450,000+ based on comps in the area.We really don't want to have to walk away from this deal but we're struggling to figure out a way to make it happen.

Pay special attention to the timelines and the expiration date of your inspection contingency, and make sure you get your inspections done asap/early so you have time to review and decide.Secondary to that, make sure you understand the finance and appraisal contingencies and timelines built into your contract.Your realtor should be able to walk you through every step of the process.Good luck!

Just networking with real estate investors from all walks of life in these venues will open your mind to everything available, just like the great folks on BP.

The tenant will then sign the estoppel to attest to its content.This is by far the best way to find out if there are any discrepancies in the information provided by the vendor (like the monthly rent being paid by one tenant is actually $100/month less that what is written into the lease, because he's the owners son and he vacuums the corridors and sweeps/shovels the walks).You can do the same thing with any service providers (i.e. snow removal or garbage service).

Learn how to walk away and say "No".  

Could someone walk me through the process of wholesaling in California? 

@Crystal Wilson I just recently installed Pergo Outlast in a small walk-through closet - I think it is a new product by Pergo.

well I walk into their office and ask for their financials, ask about future special assessments, look over the balance sheet, ask about limits with renting units ect.