My point being, I think you are thinking about it incorrectly. 

Kudos for the HELOC decision.

@Gokhan Cukurova - your ultimate end goals are going to drive this decision.  

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.