It all went pretty smoothly. 

Just never a time when things were smooth...Then came the crash... 

IE they want to make that levered 10 to 20% Apr and they are willing to take the extra risk.. when in fact ( check out the Morris invest thread) low end D class like this company sells rarely runs smooth or rarely makes pro forma returns over a 3 to 5 year run.And for many just buying a rental in your home town that makes say 4 to 6% return on cash flow but has better upside can be a smart play as well...

If they will stay fine, if they intend to leave give them 2 months notice to increase rent allowing them to find a place and for you to screen new applicants at the new rental rate.This will allow for a smooth transition without a vacancy and gets rid of inherited tenants allowing you to bring in tenants to your standards to properly educate.Giving smaller increases over a longer time period will end up in the same position, at some point with the inherited tenant leaving, and only places the landlord in a position of having to supplement their rent till they do leave. 

Prices will probably slide a bit this spring.I am trying to find flips on the MLS.

Hopefully, it will be a smooth transition.Rehabbing this property has been a wild rollercoaster.

All we need to do is smooth over the first part - the wholesaler buying from the seller - that has my attorney hung up.I understand the laws vary by state, but is there something I'm missing?

Sometimes I tend to get pissed off by lack of quality in contractors , agents not doing their jobs and so on - But its important to look at these things as "opportunities" , if everything was smooth , everybody would be a great investor

Until I tell them it'll be considered late if not mailed or paid online and I will charge a late fee;) if I stay firm, friendly and consistent it should go somewhat smooth.

If its lower by more than 20% then your income may not be used at all depending on the underwriter's call.Only tax returns will be used unless if you're looking for a stated or a program that takes into account future income or forward looking income (AKA stated income).I would review your 2015 P&L to see where you are and plan accordingly so you can make your 2016 purchases smoothly after you file in Feb-Apr 2016.Hope that helps.