Next time ask them for proof. 

Tenants will set up insurance, show you proof, then cancel their policy right after moving in.

My question is: when wholesaling, after finding a great deal, do you need real proof of funds to the get the property under contact or is there a way to get it under contract, find a buyer and complete a double closing/assign the right to sell without actually having the cash for the property? 

If they can and are willing to provide ACCEPTABLE proof of their hardship, we may give then a few extra days (not weeks) at a step in the process.There is some merit to Jeff's claim that he is doing the work of 5 people - but, it won't take 90 days to go through everything.

This would not cost anything BUT tenants may be able to argue over bill more and I know RUBS has sometimes been outlawed in certain jurisdictions so would be less future proof.

Do you have a pre-approval or proof of funds ready?

I have had to deal with this multiple times as the daughter and Niece trying to sell houses that weren’t  retail ready and it’s extremely stressful, especially if your dealing with a nursing home demanding financial proof that you can pay.

New landlord and she's still not paying rent probably because she knows she has a lot of time before you get everything together (proof of non-payment, copies of lease, etc), before you can evict her.

Quote from @Jaikevis Reams: In order to put a property under contract I need to provide proof of funds I know that I can get that from a hard money lender but I don’t meet there criteria for a loan approval what should I do? 

Do you need to provide proof of funds at the bid or are the actual funds due at the time you win bid?