Yes they are hard money lenders. broker told me to let him shop that option first. 

Whether you go 15 or 30, that aspect of financing remains true - your tenants are the ones paying your mortgage.

While I've never done it, it seems to me like the wholesalers are kind of like consignment shops for real estate (ducking to avoid someone throwing a microwave at me).Since it seems like you're in it, any chance you can hold it for a while and allow the rental income to float you, until you find a buyer? 

I personally would shop this or get a handyman to replaced this if that is allowed in your area.

sighhh i had a feeling it was too good to be true...

I think I'm still a little bit from true "success" on this deal, but I got a good thing going on. 

They are portraying renters and showing that fewer homes will be available to them, which seems true as some many on this thread are questioning investing in CA because of this. 

True thanks for the advice guys 

I think the analysis still holds true, but you have some emotional stuff in there also, which is hard to quantify.

It was a rushed deal but I had several people look at it because it looked to good to be true.