Of course we would need to add money to that to cover any property maintenance, vacancy in the other unit and the typical items that should be allotted for, so maybe she pays $800 or $850, with $200 or so going into account to cover those items, right?

@Fahim Kayed Looks like a good deal, the only concerns I have are the repair / capex allotments are pretty low.

In my case it was economically good but you are correct that it is allot more work than a rental unit.

Obviously there are exceptions but most are break even or loss at best.If you do borrow money, give them a firsr position on the property, so if you don’t pay them back within the allotted time, they can foreclose.

In a wholesaling agreement, is it possible to add a contingency clause to back out of the contract if you are unable to secure a buyer in the allotted period of time?

I am not sure if I am required to inform the bank of a falsification of the condition report but I am pretty angry at the seller as I have a certain amount allotted for repairs and waterproofing the basement was not in the budget.

Well, besides PITI, there's maintenance which is basically the amount you allot to take care of things like replacing a door lock that someone used a pliers on, broken glass, door weather seals, HVAC maintenance, supplies to maintain the lawn, termite treatment, replacement boards for the fence, caulk and paint, etc.

In a market where time is of the essence, how much due diligence should I be doing before an offer and after the offer during the allotted "due diligence" time?

After you do your move out walkthrough there could be something else you didn't catch that will cost money so make sure you use the time allotted to you. 

Greene County, VA is in the top 10 of all counties in Virginia for short-term rental income as our history, wineries and breweries, and beautiful Blue Ridge Mountain views bring allot of people down to visit.