And I have notice here in Dallas's lot of off market proprieties are not being sold to wholesalers because the home owners are getting wise that the wholesaler doesn't want to give them a dime but want to tie their property up and wholesale the contract and leave them high and dry.

Even if you use a PM you should know the law.As far as how much in reserves, see if you could scramble to get your hands on 6 months of rent value on short notice if needed.

Then you need to know the finance side, finance regulations, collection laws, insurance assignments and under what circumstances you may keep loss proceeds, need to know notices required and foreclosure procedures.

I would just tell them that I cannot make the repairs right away and give them notice.

Have you noticed any inconsistencies with them?

If she was ever served with a notice of foreclosure, even if the lender did not follow through with the sale, she can't do anything with the property except sell it and payoff the lien.The law allowing for the forgiveness of debt to avoid taxation is about to expire so now that she has waited she may have a tax liability on amounts written off from her underwater property.A short sale would be best, if she qualifies, but to do a short sale the owner must have a financial inability to pay, I'm not sure the bank has to agree if she is sitting on cash.IMO, she needs to pay as agreed, catch up the loan, then lease it over time allowing the value to come back and then sell it. :)

Another area I noticed was credit standings, giving leeway from the credit score approach to allow more judgment in credit issues.

When I walked through the house to look at it the dogs definitely used the bathroom in the garage and chewed up 75% of the trim throughout the house and my dogs while inside by themselves they ate through the drywall in a few places in the house and this is where my biggest concern is that mold from the dogs urinating on the walls and the moisture seeping in and not being noticed and mold growing from there.

I'm sure your agent is far ahead of you, in the knowledge dept.

One thing I noticed was that my listing is under "marmls" rather than the local, regional mls of "beaches mls".