They had been in a good tier for their mortgage at the beginning of the process, and were in B paper, with a high interest rate.Prepare your financial situation so that you have some extra money set aside for emergencies.  

Does that situation make me a bad wholesaler? 

Be careful of such situations as it is very easy to get into a situation where you have to evict right after putting down good money to purchase the unit.

Yeah I can definitly agree with that, I ran into the same situation when I swapped Manyunk properties with Germantown in my model.

Hi All, I picked up a rental property about a month ago and funds were to be distributed into my bank account August 31st / September 1st from my PM company however I have not received them yet.Just wanted to get opinions on this situation;  and if this has happened to you,, recommendations on how I should go about making sure its taken care of / dealt with?

I think that since I've saved a lot and have stable income elsewhere, along with several other friends in similar situations, I'd like to get right into multifamily units and/or partnering on even larger stuff. 

My uncle was in that situation and would just avoid them until he got his portfolio funding from a financial institution.It does stink because it is a chicken and the egg theory... how do you get capital unless you bring a deal to the team? 

-------------Granted this does not apply to the majority of situations, but for a small percentage it should!

This my situation currently: 15k for down payment; 36k a year salary; $400 in monthly debtsWhat should I do?

Sudden seller situation.