I would only recommend it in certain circumstances such as when a material fact is uncovered during inspection that wasn't disclosed or factored into the price (it should be a good reason that perhaps neither party knew about).  

The hard part is getting in front of motivated sellers at the time the they are truly motivated and convincing them that you are the most credible of all the people jumping up and down to give them a "cash" offer on their house. 

Here's how it works, regardless if it's on market, off market or off Broadway.1 - When a Purchase AGreement has been signed off on by both parties, the PA will say how much of a DP you are putting up, and how much financing you need.2 - Lender agrees to provide (if approved) the funding needed, minus your DP.3 - Closing date is set, usually at the title company used by the lender.4 - You bring your DP to the closing, the lender provides the paperwork for the loan.5 - You sign, among other things, the mortgage agreement, and your DP check and the banks funds are delivered to the seller.6 - You get the property.

Did you have a contract with the seller, or with the 3rd party wholesaler?

Unless all parties agree to his removal, he is still subject to the terms of the lease.I recommend you read your lease to see if this clause exists.

These NEED to be verified by third party sources to have accurate projections.

This is the best I've got so far, rate of 5.25% for 30 years, origination fee of 2%, service fee $999, pro rated interest $566, third party costs TBD, 75% loan to value. pre payment penalty if I sell it before 3 years...Is this normal for refinancing under an LLC?

Term are negotiable between the parties.

Theoretically you can try and sue the seller, but it will cost you more to do that then the job.Read your amendment, most will just list the items agreed upon, but not list consequences if the parties fail to deliver.

Nobody every tells the host they are going there to party.