I am concerned with the quality of tenants that I may be dealing with and with rent/price appreciation (I don't think this neighborhood will turn around any time soon).

This definitely depends on the quality of the building and location, but I wouldn't dismiss 2-4 unit properties with the notion that they're harder to sell.

Standard inspection period is 10 days here -- but like I said, the POS inspection report is probably going to show up after that, and I'm sure that we're looking at at least a $10-30,000 extra cost.Is there any other backdoor way to get the earnest money back after the inspection period has expired?

More importantly, our debt/income ratio would probably be too high to qualify for a standard loan.

I have spent 14 years as a paralegal and I am aware that the courts hold agents to a higher standard than investors that are not licensed when cases are litigated (I worked for a firm that represented Rice).

For instance, you’ll want to know what a good price is for home furnishings, how to determine their quality, and how to match furniture pieces.

Some people says its better to use Standard CAR contracts and other say investor contracts are better so which way would be the best route to go for doing deals wholesaling???

I would personally try to cut a deal with a quality local window manufacturer.

If I made a cash offer on this exact property as a buyer, using the 50% rule and 10% cap rate, which is standard in our location, it would be $1070*50% * 12mon / 10%cap = $65k.

If one is willing to take the passage above literally I would think it would just need to pass some sort of reasonable man standard.