I can barely justify the payment the way I'm figuring it, and am hoping perhaps that isn't the way the math should be done. 

$125k = seller financing option 1 (down payment?

Welcome to BiggerpocketsYouve come to the right place for help.there numerous threads and podcasts on getting started.Many start with savings for down payments

William Lees  also what type of  funding for down payment is  this ?

:)This house is in Birmingham, AL and I am trying to wholesale the propertyThis house is listed with a realtor on the MLS for $79kARV is about $75k and minimal updates / repairs are necessaryThere is $68k remaining on the loan balance, but the seller is behind a few months on the payments and might have to short sale it to the bank (does this even make sense, I'm not entirely clear how short sales work?)

Only keep the tenant if there is a proven payment history and it is at the rent you want. 

Hi,We bought a triplex in March with 25% down payment. since then we've added a brand new roof, redid first floor bathroom.

Always do everything in writing, including asking to sign a release of lien upon your last payment to the GC.

The seller has agreed to carry up to 20% as a second note to cover the down payment, but I can not find a lender willing to go with that deal. 

I am wrapping up my flip and was wondering what type of payment documentation I will need for both legal and tax protection.The project involved a GC, electrician, plumber, and granite vendor.Do I need to get waivers from all these guys?