That would scare me to death. it is real easy to look at a property on line that is a "Great Deal" isn't always great. you can totally miss a market by a town away, a city block and unknown circumstance.  1.you have to pay about 10 grand more for a 40k property. 2.

@John Kennedy if she is a model tenant why not. 200 dollars is not outrageous given the circumstances.

I work for a commercial GC and we always do contracts which you should do and also I would, although it may be a little more expensive, have a GMP in the contract so you know what your max price will be barring any unforeseen conditions.Let me know if you have any questions!

So yes, you can wholesale in affluent areas, in fact, the profit margins for the wholesaler will likely be larger in those circumstances.

Would I sell under these circumstances?

Unforeseen things and expenses will pop up. 

I certainly would not trust the word of a few contractors and rely on that to determine my construction costs or evaluation of the numbers of any deal.In this circumstance, I would spend the time and money going on location.

Initially I like to have at least $10k in reserve after I purchase for any unforeseen circumstances.

Would be happy to point you in the right direction depending on the exact circumstances. 

Knowing Airbnb, they might have tried the extenuating circumstances to get their money back.