We have worked with B2R and have 7 properties already with them but this products is very difficult to work with and the fees were painful to deal with.  

I am currently seeking $2.8M to close on a $6.6M deal.

But it is a major pain in the ***.http://i2e.uslandrecords.com/NJ/Gloucester/D/Default.aspx

Some are not so good and a pain in the neck, many are mediocre, and some are really great and a pleasure to work with.

I would always encourage you to seek out your friendly neighborhood attorney for real legal advice :)

Owner says that it will fetch $900 a month.Asking price is $120,000The owner bought the property for $6,000 in 2001 and he has done significant work on it, but am sure the asking price is negotiable.This will be my first investment property if I decide to go ahead with it.Since this is my first deal, I am out here seeking your input and advise....Is this a good deal? 

No problems with your plans aside from you not seeking passive income.

For more information, seek out a local attorney.

Otherwise trying to wholesale properties with living tenants can be one big pain in the *** and not worth the time at all. 

Your PM is not seeking the lowest bid, they are seeking the bid with the guy they like to work with and isn't looking after your bottom line.