While wholesalers might encounter uninformed sellers, this is not the norm and to characterize wholesalers as "equity strippers" is mischaracterization.  

Furthermore, the meeting was a bit weird as we didn't want to offend him, but honestly had no intention of using him (as we are building our own team), What are your thoughts on this encounter?

Sure there have been a few bumps in the road, but nothing that wouldn't normally have been encountered if I went solo on these projects. b.

As your portfolio grows you will encounter opportunities and want to grow using debt/leverage.  

I push thoughts away regarding what our profit would have been had we not encountered these setbacks and am grateful for the learning experiences this property has provided!

I can achieve that in my local market at 1/4 of the sticker price.  

@Erik Haugen So long as you treat tenants (and everyone else you encounter in life) honestly, ethically and fairly, there is no ethical dilemma here at all.  

We just encountered a similar situation. 

When you encounter rates significantly under $1, it not only implies that the supply/demand is out of whack, but that you are not going to be able to generate sufficient returns to make the facility a winner.7.

What you are encountering is the market and the difficulty of making money with SFR.