The only tax deduction that doesn't represent an actual cash outlay is depreciation, which you're going to have to pay back in capital gains when you do sell the property, as opposed to now where you can avoid capital gains entirely.Not to mention we are in a hot market with signs of a correction on the horizon.No brainer.

Wholesaling, when done correctly, will make you an asset to investors and distressed buyers.

So I can wholesale this just would need high earnest money correct?

I am only interested in getting the job done correctly, but after thinking about the extra time I will spend, the buyer that I lost, and the extra monthly HOA payments I'll be making, it seems their inaction and not doing what was asked correctly, is now costing me money. 

I am using a split transaction to itemize the expenses/proceeds to total the selling price, correct?

I'm I correct with that?

Is this understanding correct?     

Am I reading everything correct? 

@Samir Shahani your notion is correct - I don't know where there idea came from to correlate repairs and maintenance to rent - if anything they have a somewhat inverse correlation.Repairs and maintenance depend on two things - replacement value of the property and age.A property is a list of systems: plumbing, electrical, windows, roof, driveway etc - and every one has a useful design life span.

Well initially doesn't look too bad be careful often the numbers are not correctly reported do your due diligence!