Second i would get a new lease signed and ensure if tenant does not pay that you move quickly. 

Have ten signed up on my Meetup, why don't you stop by?

I have recently signed up for a few of the SBA meetings.

Regardless of your plans, get the tenants to sign estoppel letters verifying their security deposit, rent amount, etc.

I visited my friend in Panama City while I was there and there are bandit signs everywhere.

So, I would need to treat a wholesale transaction the same way I would as if I were purchasing then selling my own home...?

Your Buyer Signs your Contract.

It looked pretty good and the contractor thought the $35k rehab estimation in the NW packet was about right, so I wired in my $5000 deposit and received the contract to sign.

You can charge them a rent and sign a lease for 30 days max taking a deposit.

My agent is going to try to use it as leverage.2) the very dirty tenants downstairs has very recently signed a 2 year contract for only 1037/mo but I could easily go up to 1100-1200 which is the norm for a downstairs basement that area.