The moral of the story is that even after the upfront due diligence, the investment is not as passive as it would seem.

I was diligent in getting everything in text or email, so we could avoid the he-said/she-said issues which would have arose otherwise. 

I was leaning toward the LLC owning the property, but i'll have to do due diligence to consider the pros and cons of that. 

So, do your due diligence. 

It's important to educate your self and do your research/due diligence before getting into any deals. 

Banks are pretty tough to deal with on doing repairs and such, I just build anything I want from them in the price.If it were me I'd make an all cash offer, short due diligence, short closing, then ask if you can secure the A/C after you're under contract.

That's why you should learn how to do your own due diligence and NOT rely on the opinions of others.You gotta start somewhere though, so contact several PMC's and ask lots of questions.

. - Have a strong contract: contingencies are critical in wholesaling, you want to ensure that you have an 'out clause' if the deal no longer makes sense after further due diligence. - It's all about speed: You do not want to wait too long to take action on getting this under contract, there are plenty of ibuyers, out of state investors, local investors etc. that would jump on this quickly. - Dont rely on one deal: Probably the most important tip is to always keep multiple potential deals in your pipeline, don't put all of your hopes into one deal because if it doesn't work out you'll be back to square one.

., and it will take 3 dumpsters, and maybe 3k+ of costs, labor to unload place...what do you suggest to get under contract and inspect, for diligence, without spending $3k just to unload the house for an inspector to get in?  

@Jennifer Ndunda, in my state reviewing existing leases etc would be part of the due diligence period just like any other "inspection".