In the infamous words of Austin Powers:Well I vana toilet made out of solid gold, but it's just not in the cards now is it?

The other responses are merely advising him that his costs will be higher than he expects in the future so he should be socking away the proper amount of cash just in case he needs to replace a roof, ac unit etc.

I see no problem with this if these fees are negotiated and disclosed properly in advance.

After a few months of research and educating myself on wholesaling and the proper way to go about things I finally made my first offer.

The seller may well have had an incompetent agent or short sale negotiator, who wasn't keeping track of the foreclosure time line properly, or didn't get the appropriate paperwork to the bank.Just because the agent drops the listing price, this doesn't mean the bank will accept that price.

Do I add up all properties' PITI, auto loans, credit cards, etc. then divide this by all the rent I receive?

If you take the latter reasoning and set up a new company for long-term holdings I think it would be very easy to signal to the IRS what your intent is by taking title at the outset in the proper entity.

Either way ensure you cancel your contract properly if needed.

I know this is not the subject of your thread; however, you mentioned post cards and I couldn't help chiming in.

Did it complete properly?