While my heart aches  about this situation it is a lesson you won't easily forget.  

I understand your argument that everybody is a winner when you have a middleman, but to a flipper, a wholesaler can easily screw him on a much bigger profit.

@Mike H.I can easily imagine a situation where it's predatory lending even if they just charge extra rent in exchange for the option. 

With integrated accounting software, you can easily check tenant ledgers and run reporting for business analytics. 

Also with unpaid property taxes, there is usually unresolved estates that I can handle easily.

If they are professional, they can explain this quickly and easily.

Atm here in vegas I believe with those things remedied, it could be worth 3.5-4 million easily.

My current primary was a buy low deal in 09' so it will cash flow north of $500.00 a month after all debt service, cap ex and vacancy allocations and with our W2 incomes we can easily afford the new house and still have a nice life style.Is there such a thing as "Happy Wife, Happy Life" or do I stay the course and make her wait (or divorce me) until we have our rental portfolio started/establish.... what's a good number to get to before we upgrade our primary?

However, a good portfolio lender could easily do a commercial loan on this.  

Mine has an RFID card system on it so I'm able to easily lock people out of they do not pay and can do this from home remotely through a VPN connection.