Kind of depends on what your net worth is and what your other goals and objectives are.

I guess to answer this question more in depth i would have to know what was the seller objections for not wanting to sign?

But wholesaling success should not be your ultimate objective.  

I think I need to object to the idea on philosophical grounds.When you extract a late fee it's because the tenant has caused you legal injury because if their failure to pay on time.

My objective is to have a net of $300-$400 per month (Rent-PITI) so that I could potentially buy more properties.I definitely sound like a novice investor, please advise!

. :( I'm very new to this but have been addicted to the podcast, I've listened to over half of them now but I think all the info is giving me a sort of shiny object syndrome and I'm dying to meet up with some like minded individuals.

I'm here to learn the legal and ethical way to pursue my objectives and goals as well as develop an efficient process in doing so. 

Knowing these will replace the subjective and often emotional decision-making process with an objective and analytical one, and may just save your arse.Overall on this deal, the numbers look decent.

If that's the case they can approach the judge with an objection and the judge may request a full blown appraisal to validate the selling price and confirm the absence of any equity.  

If your objective of renting out an apartment is to get the highest rent possible within reason of the comparable market, it seems like it would be worth it to have a system in place to make the extra effort.As for planning that far out, I think some people actually do plan ahead this far in advance.