Even if the operation could meet the requirements, it is likely they would also wind down their operation, as they could not afford the burden of doing so as their interest margins are too slim.

So we kinda can't afford it. 3) just sit and save for another property? 

@Mike James GiancolaHello Mike, I would second what Trevor said about turnkey properties, and I would suggest turnkey properties in the midwest because they are extremely affordable (<$50,000).

Can you afford to carry a negative cash flow for several months if necessary? 

They will be good people, but many will not pay like clockwork and they will not be able to afford much rent.

If you can't afford to (or are unwilling to) fix the issues that impact the health and safety of the tenants then you shouldn't have bought the property.  

1st off neither of us  can leverage our credit.  he has $10k to invest. i can rehab on a dime, and bring a lot of value with minimal cost.  (tools knowledge of outlets/discount materials & sweat equity)WHAT DO YOU...

It has been a really frustrating process all together, but we are determined to wait it out until we can go no further!

My goals for the future are to gain enough revenue from wholesaling that I will be able to afford my own properties to fix and flip and also some to keep as rental properties. 

If you can afford a more costly property, you can realize a much greater cash flow, wind up with better tenants, a better property realizing more appreciation, and have an easier time renting.I have some leads on some quadplexes, and duplexes in the Tampa Area, if anyone is interested.