Its a steep learning curve but very rewarding if you stick with it.

Though I would caution you on hard money lending until you understand the industry a bit better, that can be very rewarding but you have to be able to do your due diligence on deals because you're turning over your hard-earned money to an individuals project, often a flip. 

With more risk comes more reward.

A licensed agent can do all the things a wholesaler can do, and is a proven business model where the same hustle that any successful wholesaler brings to the table can be rewarded 10-fold more, with little in the way of legal obstacles.

Patience and discipline reaps its rewards. 

Your risk vs. reward is way off balance there. 

Consider the risks vs the small reward...

If he didn't want it or can't afford it, I would have reward him with 60 days time to find another place, then find a new tenant that can pay what it is worth….  

The reason I ask is that specific performance is rarely granted as a remedy in my experience (not a lawyer, just do some transactions) unless a monetary reward isn't enough to make the buyer whole because the buyer truly can't find a different property to meet their needs.

How do you balance the risks of holding during a market dip versus the rewards of appreciation?