Even if you're able to prove in the small court that there was misrepresentation or some other sin committed by the seller and/or his agent, and the court sides with you, the real problem is how will you enforce the court's favorable decision?

And understand that wholesaling is nowhere and nothing like investing, despite the incorrect impression given by those selling mentoring.

Sorry for the ignorance, I just want to make sure i'm making the right decision.

@Daniel DietzKudos for handling it the way you are doing.You may be under an incorrect assumption (a very common one, I should add) that depreciation recapture is due immediately upon the sale.

The decision on month-to-month vs 12 months is completely dependent on the market drivers in YOUR area.

And zillow's has incorrect data for beds/baths and sq ft.

Many incorrectly assume that a PM company only needs a real estate license.

But sometimes you have specific questions you want to sit down with someone local for an hour to help with your decisions, validate what you do or decide if you should go right or left.

And it's annoying to have incorrect information that I have to remember to calculate by hand. 

My job for this investor (who is an agent and interior designer) was serving as an analyst, constructing proformas, consulting on my opinion on macroeconomic markets and outlooks for real estate, consulting on microfinancial decisions (I am an Economics major with a specialization in International Macro-Finance & Econometrics), and managing day to day duties of rehabs on site.