I made an agreement with a guy and I made the mistake of sending a long distance cash purchase contact and I signed first.  

Don't put it into the market, I made that mistake a few years ago and lost $10,000. 

For starters it can be a good way to avoid all the mistakes of doing everything yourself.

He was referred through my realtor because he is extremely efficient and doesn't make mistakes.  

I apologize for the mistyping mistake, it was auto correction by my phone, I meander that I was not familiar with probate property.In regards to my due diligence, there is a lot of mixed information about this property, I checked on Zimas and is shows that it is part of The city of Vernon, but the square footage is smaller by almost 2000 sf due to approx. attached vacant lot that shows as a separate lot on Zimas.  

From everything that I’ve heard and seen, the biggest mistake made by inexperienced wholesalers and investors is inaccurately calculating the ARV and repair costs on properties.

Common mistakes are underestimating vacancy and collection loss because the area is currently in demand or underestimating repairs, maintenance and replacements because the property is new or nearly new.

You appear to be in over your head and have asked some very basic questions (not meant to be insulting) just my concern that you could make mistakes going at it alone.As I also stated, the lack of info given originally makes it difficult to determine for any of us if the parking issue is a deal breaker or not.

Just this year I've probably personally seen over a million dollars in mistakes that banks have cost themselves.

You learn the most by doing & hopefully your cousin can keep you from making any big mistakes.