What situation is he in that is causing him to not be able to make payments?

However, one thing I would add is that, when vetting a Sponsor/deal, their acknowledgement and analysis of a "bad" situation is certainly welcome.For example, a sensitivity analysis that supports say a 2-3% return even if occupancy and rents don't come anywhere near projections, is still relatively attractive given potential returns on other investment vehicles.If a Sponsor you're considering is all rainbows and sunshine, I would take that as a red flag and move on.

You're assuming the wholesaler can't close the deal themselves, while that's certainly possible, you can't really say for sure without knowing what kind of contract they have with the seller and what their financial situation is.

That is the exact situation I am in right now.

Looking for any tips, ideas, or anyone that has been in a situation like this!

There are things that I know I don't know, and there are even more things that I DON'T know I don't know - So I am here for help and I humbly request assistance and any information / advice on the topic of my situation, and what I might do about it.

If anyone can provide some feedback into this , or have been in this situation . please advise . 

Let me explain my current situation.

To BRRR it would be more like buy a 30K property, then spend 20K doing reno and then have a house worth maybe 80-90K that is paid off and producing income.If you are looking to do this both out of state and as a newbie, two turnkey properties is a clear winner in m book for your situation

I have a similar situation.