Understand how they slipped through the cracks - did you allow them to book even if you got a bad feeling, priced too low, last minute booking, etc? 

I would say if you don't know the area, you should check the eviction database for that street to see how often evictions occur, you should check crime on neighborhood scout or some other site, and you should drive by the property late at night and see whether you would feel safe getting out of the car.  

Im a new wholesaler and ive got my eye on a sfr thats listed for 265k free and clear owner, the whole inside is gutted so all it needs is appliances tiling/carpet, countertops etc... outside is mint and updated already.

I have a handyman do a lot of my work but sometimes I don't feel like that actually fixes the real problem and anytime digging is involved people want to charge a fortune.

Tenants must receive; signed Certificate of Rental Suitability no more than 60 days before move-in, Partners in Good Housing Pamphlet, Lead Free/Safe Cert (if built before 1978), smoking policy for multi-unit properties, Bed Bug notice as you describe above.For Pennsylvania: It's also best practice for property owners to include a lease provision that waives the Notice to Quit requirement of the PA Landlord Tenant Act.

How do you feel about that strategy?  

I'm thinking to let him sue us if he feels it's necessary and take my chances in court.Thoughts?

Feel better Ray.  

That should keep both of you happy and eliminate the feel of competition between you both.

Hi Alex,It could depend on your experience - if you have a lot of experience in heavy rehab/construction you will (1) be qualified for the loan as construction loans require substantial experience and (2) feel more comfortable taking on the loan.