Bottom line: you signed an agreement, so you'll pay what the agreement outlines.4.

Bidding based on the assessed value of a property instead of the actual market valueNot understanding the rules and how they affect your returnNot understanding the hidden costs which @Jerry K. outlined. 

We have friends who had a shooting right next door complete with a chalk outline in the middle of the street.  

Now I would love to know more about how to set up a wholesale deal for a property like this.Should I out line the possibilities with the deal, I did all the reasearch for it to be a profitable venture but I realize my experience is lacking.

I make $100k a year off 16 properties in the Metro Detroit area..and with $100k you could buy 2-3 of these and get a nice start.Here is an outline...Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: 1%-1.4% rule dealsROI: 10-14%Cash flow: $150-$300/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B- Tennesse has caught my attention as well...but when things aren't broken it's hard to change... following along to hear what other have to say...Here is a pic of my portfolio if you want see examples..

I'm not sure if I outlined my systems in my original post.  

If you have no listing agreement with her, either get one in place with her that outlines the duties and responsibilities of the parties, or get a new agent.

It's nothing fancy... just three pages outlining my vision, goals, criteria, etc... but it's given me much needed clarity. 

There are a few big changes but by far the largest and most consequential is the widespread adoption of the guidelines, definitions and regulations outlined in ASCE 24-14.

LOLit's outlined in the state landlord-tenant law online.