It's not 2012, you need to be more disciplined and selective that ever before.  

It would seem you're eager, but that eagerness can lead to emotional decisions about a property and you'll end up down the wrong road if you jump on the first MFH that has a gorgeous view or was just recently updated inside.  

It's seems like you are emotionally invested in going through with this deal.

You must be highly self motivated for positions like these, not just in training but on the job, fatigue is not an option and your attention detailed to 110% as you perform.They also require a great deal of focus, you can't be distracted and you are disciplined to remain calm under extraordinary circumstances or in an emergency. 

Residential sales can be emotionally driven, while commercial is very business based.

2) If seller's agent was blowing smoke then walk.3) Don't waste time and emotional energy on it in addition to losing a few bucks.4) Focus on the next deal instead of the misery of this one

Both of you should have substantial incomes that will allow you to escape from the hole you have dug for yourself, but it's going to require much more discipline from you and your wife.

Formulate an investment strategy is be very disciplined about applying it.  

Ignore the "white haired disabled old lady" emotional noise.

@Tony Silvas I think part of the problem is that you are looking at this purely from a financial point of view and not the emotional part.