After they submit the cancellation contract. 30 days past and Bill still hasn't been able to produce the money. 

It is widely accepted in business that the experienced teach the intern, in real estate it's common to "leach" a deal, latch onto the leads produced by newbies and follow through splitting profits, nothing wrong with that. 

If the condo is producing like you want it to with good cash flow, then you're fine.

We were thinking hydrogen-sulfide producing bacteria (thanks google).  

You will likely need to find a private lender to fund this deal.Also, since the property is vacant and not producing income, you will not qualify for permanent financing.

You guys rock 😎

I got an introductory rate of 1.99% for 9 months then 4% or 4.25% thereafter.Sounds like you're caught between a rock and a hard place.

My wife has  a TC and so do all top end high producing agents..

The property is then often sold to an investor who will complete a full rehab.REIT Investing: A real estate investment trust (REIT) is a company that owns and manages income-producing properties.

I bought courses and partnered with mentors on deals and it played a huge part of me gaining the confidence to actually get started with producing deals knowing someone was there that already knew what they were doing and had answers along the way.