I could go on for a long time about this, but I will be brief. I have wholesaled hundreds of properties in Central Florida. I myself have moved away from it as I think the market here has become over saturated with wholesalers that have no idea what they are doing. A lot of them contract houses at list or above and then add money on top and sling it against the wall. There is no service being provided here except for ones own gain. I have opened my own company and am going to use my knowledge to take myself out of the middle and represent clients directly to the sellers.
As far as legalities go. It is 100% legal in Florida to wholesale. You put the property under contract and you now have the contractual rights to the property. If you are licensed there are disclosures that I had my buyers sign stating exactly what the transaction was and had them sign a no brokerage relationship form. Not having a license you can do the same exact thing as long as your company or you are on the corporate docs you can market the property as you have the contractual rights. The main issue is that people don't do there homework or know how to structure the deal and end up screwing it up. There are very successful companies in the area that do things the proper way.
Don't listen to the gurus they are out to shove info down your throat, take your money and never see you again.
@Jay Hinrichs wrote it well above.
