I really do believe that a lot of times, the kids who need the most loving behave like this. I'd want to put in at least month and see if I notice any changes before terminating. HOWEVER, the parents MUST be on board and willing to help as well. If I feel they are hindering and not helping and their child's behaviour starts to spread to my other children than I'd be more willing to terminate at that point.
I don't believe just passing off children with bad behaviour to other providers is the answer. I try to think how I'd feel if that was my child. (Provided that I wasn't enabling the behaviour of course!!)
Remember he's still young and like most of us, change us hard. He's still adjusting to your routine and rules.