The cost saved is minimal in the big picture.  

I generally place minimal value on the mobiles. 

The goal is to keep them rented for minimal effort over the next few years and then condo convert or sell the appreciation.

You won't be wasting your time.

Seems like you'd just be wasting money on the loan costs to pull it out now. 

And while I am sure he wouldn't sue you if you sold it out from under him, you are promising in the contract not to do so.While some wholesalers may waste your time, locking up property they won't actually be able to close on, 30 business days (6 weeks?)

The reason I want to grab this house is because it is literally 5 minutes from my house, its small enough to manage with just me, my partner and my father, and the upgrades it needs are minimal.  

If they make an excuse as to why they can't send that info(happens all the time), its probably a waste of your time.

What kinds of things do you do to minimize cost? 

I needed new kitchens, baths, waste and vent stacks, heating, 40 windows, new roof, floors, walls, the garage was compromised -likely demo, porch, electrical work, mold in the basement, etc.I assumed ARV $390,000Repairs: $150,000Difference $240,000 (bid at 75% of ARV-Repairs 180k)They were asking $255.