wholesaling lease options

[Ed Kahle]

Has anyone wholesaled a lease option for a fee from the buyer?  I have some older wholesale properties I've offered for cash sales but can't move them.  I get calls to purchase as lease options more than cash sales.  If the seller goes for it, I'm considering on assigning the lease option to my buyer.  Sell for $5,000 down plus terms and buy for the same terms with $2,000 down, where I would retain the difference, $3,000 and assign the terms and walk away.

Has any one done this much and are there pitfalls to consider?