Here are the details on the house:The Good-Located in Hunterdon County NJ in a desirable town/school district-2 bed/1 bath-Attached 1 car garage-1/4 acre lot-fenced back yard-Hardwood floors-Central air, newer oil furnace/wood furnace-30 year roof put on 7 years ago-450 SF of finished space in basement, carpeted with built-ins-Full perimeter foundation drains and two sump pumps (basement has never seen a drop of water)-New gas stove, dishwasher, and laundry machinesThe Bad-Mortgage balance is about $222K @ 6.125% - House was appraised last month at $220K-Current PITI is $2345/month-$1495 Principle and interest-$615 Property tax (Taxes are very high here)-$60 Insurance-$175 Private Mortgage Insurance-Normal rent for my area on a 2 bed/1 bath is only about $1000 a monthDo I have options here?

Hey all, Just curious to see if anyone can validate this exit strategy for a wholesale deal.

If an executed contract isn't valid yet is there any other way to secure the property?

You don't say whether any of these folks have a valid lease or not.  

In contrast, your 20-year old, gas heaters most likely have an efficiency between 60 and 75.If you do the math, you will likely find that if your existing water heaters run for another 5 years, the difference in fuel consumption to a new heater would pay a considerable amount of the acquisition and installation cost for a new heater.   

I see no valid reason for her to think that but it would still create a hard sell.

The Contract consists of a ONE TO FOUR FAMILY RESTDENTTAL CONTRACT (RESALE) TAR 1601 / TREC 20-11, and a Third Party Financing Addendum for credit Approval -which is TAR 1901/TREC 40-5, and a ADDENDUM FOR RESERVATION OF OIL, GAS,AND OTHER MINERALS, and a Buyers Temporary Residential Lease TAR 1911/TREC 16-5, and a Plat Record.

You guys make irrefutably valid points,which I happen to agree with wholeheartedly.

I would think that a quit claim deed recorded before (or after) the redemption would be valid.

That is a valid concern.