If you don't have the cash to take these deals down, then perhaps you should reconsider wholesaling, or better yet, hire someone to do it for you. 

If you are a prospective investor in Michigan, reconsider what you are doing.

I will live there a year, and then reconsider my plan at that point.

I would reconsider forming an LLC for your needs; you are starting out and as an investor you have many options.

As I understood you are pretty experienced I trust u have a systematic way to approach researching ;) Also I would be interested to hear which market has worked best for you so far...as I’m open to reconsider.

If you are investing in a syndication as a passive investment, that would be very suitable, but if you intend to participate in the day-to-day on the project, you might want to reconsider.  

I just hope you will reconsider next time before submitting a reply calling my opinion 'terrible'. 

I think it would be beneficial to give the seller maybe a little longer to reconsider. see if they can extend the closing date.

I would even tell them you will reconsider the matter considering the work they did in locating potential renters and that you appreciate their effort.On the matter of the "over a dozen violations" for which they want to take you to small claims court, that's a separate matter.

If you are viewing the late fees as a separate and additional "income stream", then you might think about reconsidering.