You will need egress from the room which typically means a window well from my experience with Michigan basements.

Maybe if you had a bit more experience on typical contractor shenanigans , you could have gotten through it or if the guy wasn't questionable and got you through it, it would be singing a different song.  

The typical method of going through a real estate agent and using MLS doesn't seem like the ideal path (if only the easiest and most typical).  

You typically have to pay a 3% balance transfer fee, so transferring $28,000 for example, you pay $800 or so, but then the bleeding stops and you have between 12 and 18 months (depending on the offers) to pay with zero interest charges. 

typically, contract law dictates that agreements for one year or more must be executed in writing. an email response is likely not enough to fulfill the requirements of an executed contract

I really don't want to fall into the typical stereotype of the newbie who wants to wholesale and then flip and then accumulate rental properties, even though that is true I want to solely focus on wholesaling for a while and really master it.

These actions typically drag in the seller, agent, and broker....It may be easier to see if you can settle with the previous seller/agent first.

Traditional banks typically don't loan to LLC's so you could consider making the purchase in your name directly then transfer the deed to the LLC if the terms of your mortgage will allow this.

I don’t know any electrician (or tradesman for that matter) who doesn’t consider something like that a gray area and typically won’t pull a permit.

If college students are paying "X" to share a room, it might mean more cash flow then your typical rent.