I would also consider how long in the vet lease going to be, and what is your exit strategy.

Curious what current wholesalers in the state plan to do when this new law starts??

All of the risks of "subject to" then come into play (with a "wrap"); read this thread:http://www.biggerpockets.com/forums/83/topics/86029-subject-2-protection-from-calling-mortgage-due

What would you do to get a partner, vet them, and possibly look for a long term business opprtunity?

(I assume he owned a convenience store or something)  for $7,000. 

But note, what you use money for after selling a home does not matter - what matters is at the point of sale and if it was considered owner occupied or not. 

He just informed me he got a job in another city and may need to break the lease early.

but if anyone is looking to make changes and raise rent, they have room for that What made you interested in investing in this type of deal?

What was the outcome?

This week's educational lesson is understanding a loan sale agreement - especially one-sided agreements. There are many parts to understand as part of the loan sale agreement (including closing date). The closing date...