here's the update:purchased the house at the end of August for 63 and started working on it.replaced:10 windows, gutters, garage door, 6 basement windows, interior and exterior doors, carpet, kitchen, bath had to be gutted, basement sink, kitchen flooring (vinyl), new plumbingspent around $16.5 to fix it up. the house looks gorgeous, but i am having trouble renting it. i have been showing it since the start of November, had a few applications, but no tenants yet.

In reality there are many people wholesaling here.

The reality is that its unlikely you'll manage to collect anything from him.

Do not empty the water buckets you use to clean the tile with after grouting in the sinks or tub because it will harden in them even diluted 1000% I may use this in the future for kitchens with a regular grout with flex agent if it holds up to these wet areas.      

Though anyone can look at comps in reality our opinions are less valuable then a real appraiser.

I dig in the attic, closets, under sinks, breaker boxes, everywhere there is to look before I make my first offer. 90% chance that if I am showing up to look at a house I am prepared to make an offer I'm just deciding on how low to go.

The reality of it is at some point the seller who has the listing agreement is going to be too cheap to ask an attorney and when a question arises from negotiating with this back door buyer the seller will ask the listing/broker agent for help."

$2k reduction makes the deal the same and since you were throwing in everything except the kitchen sink it sounds like it turned out to be even better for them.

That answer would be based on economic theories and principles which, I have learned, do not go well with political realities.

Not to discourage you, but this is reality (or realty) for new wholesalers.