Remember - the rent has to cover EVERYTHING: PITI and management plus your profit after you establish a cash reserve.This sounds to me like a case of what can happen when folks go out and try to do something BEFORE they learn how to do it.I'd look elsewhere unless you're willing to put forth the effort (and likely some "investment") to learn how to do short sales properly.

Hard Money may not likely be a proper avenue for my situation.  

You could reverse the cap rate to find the a proper price.

The AC guy and the tenant feel bad about this situation but I always try to put myself in their shoes and I wouldn't be happy with AC that doesn't work properly.

I attend the bi-weekly Investor MeetUp as often as I can make it.I have a MFH and SFH rental in the area myself, but have not done any proper investment real estate personally.  

But for the first 1 or 2 I think using our own money is the proper strategy. 

It was a basement flood that lack proper waterproofing around the house. 

It takes time for proper accounting. 

To be safe you need proper ventilation .    

The seller has agreed to let me wholesale the property to another buyer, but where can I get my hands on the proper legal purchase and assign contract giving me a time-fame to find a buyer?