Rome wasn't built in a day, the gurus paint a picture that this is REI business is easy, it's not easy.If you want a business that you starting from scratch with very little capital, then it takes time and energy to build it.If you're not license get licensed, or at least buy the books from Kaplan that RE agents need to study to get their license.

Bullet.  

@Curtis Bidwell Curt, your guidance post purchase saved me time and energy.

Should I just bite the bullet and update everything on the supply side?

My options are to enforce the lease and evict, sue and try to recover the money owed me or renegotiate and bite the bullet until next May taking a $3000 loss.

And reaching out the yield curve you have MLPs and such...where you may see a distribution cut or halted like what's happening now in the energy space. 

Wholesaling requires work, energy, effort and perseverance.

If it went any higher the argument for renting would become even stronger.The opportunity cost of tying up all that cash, time & energy is almost never worth it.One of the only times it makes since to finance your primary residence is when you know you are buying a property substantially under market, and reselling it.

Your next best option is to bite the bullet and sell it at a loss and move on and try to make it back on the next one. 

There may be a way to dodge the bullet, but the OP needs to connect with a CPA and 1031 specialist quickly.