Quote from @Don Konipol: Most Common Incorrect “Facts” by the Inexperienced1.

. $50k land value on a $600k property sounds very low / possibly incorrect 2.

Worse, “wholesaling” teaches little about INVESTING, and what it does teach is mostly incorrect. 

This will be my first investment property and My fear is that I will estimate my cash flow incorrectly and end up losing each month.

If you're interested, there's a book titled Sociopath, A Memoir by Patric Gagne, an autobiography by a woman self-diagnosed as a sociopath who went on to get her PhD to better understand her condition. 

They filed incorrect and invalid registrations with the city. 

At that point Lula sent the pro back again to diagnose the problem.

However, when contacting the principal’s home, his wife confirmed the passport photo was not his, and the birthdate was incorrect—despite the signature on state documents being authentic.Unauthorized Use of LLC: The actual owner, a 78-year-old retiree, was unaware that the LLC was still active and had never conducted any business under its name.

Quote from @Jonathan Rieder: It was specifically stated in the add that there was an ADU, which I assumed needs to be truthful and that an illegal ADU would not be considered an ADU, am I incorrect on this?

Paperwork and billing was poorly explained and often incorrect.