I asked her to have a Plan B ready, and if it still doesn't rent,  to plan on cleaning it up and having open houses starting the first weekend of October and consider the loss of one month's rent as part of the learning curve.

If you're currently renting can you cut the lease (some leases will let you terminate early due to job loss and if not if you give the landlord as much notice as possible they may work with you and more notice means a better chance landlord can find a replacement tenant so that lease break charges to you are minimized) and move in with relatives or at least a cheaper rental?  

Anything that a borrower cannot shop for that is not disclosed initially, or is disclosed in error, cannot be corrected or added and re-disclosed later, AND the lender is required to close the transaction as it was initially disclosed and cover the loss.  

If a tenant has been in a property that long I typically keep them there(especially if they have been on time payments over that duration).When you did your inspection before purchase were there items that you noticed to be attended to immediately? 

B items removed from the title commitment as possible and deletion of all Sch.

What gets a bit sketchy is the added line items that specifically say the contractor can add charges due to any unforeseen expenses such as work that is needed after tearing out an area that couldn't be known until a certain wall or shingles were removed.

BUYER will waive the termite inspection and accept the DWELLING in “as is” condition.SELLER warrants there are no unpaid utility assessments or undisclosed debts or liens, recorded or unrecorded, secured by the DWELLING and property being purchased.SELLER shall remove all personal items, furniture, food or other items that are not part of the real estate within seven (7) days after acceptance of this offer.

Typically there is an independent inspector who comes to verify the items completed (and there is about $100 fee for each inspection/draw).

and I need to (a) recoup those losses, and (b) start bringing in more money (via wholesaling, I hope) in order to fund fix and flips and more notes.I've been a member of BP for awhile, even recently signing up for Pro, and I listen to most of the podcasts, but it is only now that I'm going active (I know, I should have long ago).

Items not sold the first time thru get reauctioned and the redemption period is 120 days.