I am reading several books on the topic and boning up on my necessary mathematics.

Some wholesalers don't mind as long as you bring in a qualified buyer to the table.I use a flex option with other wholesalers so as long as there is still meat on the bone for the buyer they don't mind.Just make sure your fee doesn't exceed his.

So if any of you Rockstars out there want to throw a newbie a bone, I'm looking for that super talented agent you previously worked with that seem a cut above the rest operating in the Burlington County area of New Jersey.

Which I wouldn't normally have a bone to pick with. 

Most likely the easiest and least problematic legal way to get rid of the tenant will be cash for keys, but find out first what the tenant's lease says.If it turns out that the tenant has no lease AND has no interest in leaving, you'd best start boning up about eviction law in your area.

Property is old with good bones, livable but there will be deferred maintenance that the cash flow will be able to handle. 

Here are the details:Duplex will be vacant when we close on property (the owner is moving out of the unit)Rents are potentially at least $700 conservatively, or $1400/mo. once rented outThe duplex is worth between $85k to $100k (I had a hard time coming up with exact comps)I estimate a 45% expenses (on the high end) which put me at a 11.63% CAP rateRepairs are about $35,000 (it needs all kinds of updating, but has good bones and appeal once finished)I offered $45,000 purchase payment with the following terms:$25,000 down payment and $20,000 in 18 months18 months of NO PAYMENTSA 12% interest charged only on the balanceBalloon at the end of the 18 month period (i.e. $20k balance)Therefore, 12% interest on the balance ($20,000) is $2,400Total seller gets is $47,400 after 18 months.  

Although it was built in 1958, the bones on this Quad were solid and the risk of any major capex was quite low (knock on wood).  

Pool parties......oh and you can throw in some gambling to add to the bottom line.Complimentaries have been squuezed to the bone. 

If there is enough meat on the bone and you can absorb the difference then go for it.