Further, if you use any type of financing other than owner finance or daddy financing, the lender would require appraisal and appropriate survey and engineering inspections.

We have had other candidates who say they are self employed but our process requires tax returns - although we have had a couple who could produce the appropriate pages, most of them go on to admit they don't report it and thus are unable to verify the income.

Those are only appropriate for flips.

You may be tempted to try to evade the law and rent out the unit(s) without going through the appropriate legal steps.  

My questions have to do with wholesaling and how to appropriately approach buyers and sellers when trying gets house under contract and assign it.

I have 12 years experience in the construction industry building, remodeling and rehabilitating homes around my current location.

In Ontario, I find it hard to find properties that will cash flow at the 1%rule at the least when taking into account all the appropriate expenses.

You almost completely disregard the "verbal acceptance," and push for the fully ratified contract, signed and delivered, by creating a sense of urgency that you feel is appropriate for the situation at hand.

I would probably use those forms unless I thought the situation was complicated by something.If your lending attorney is familiar with RE lending and works in the space he would have those documents off the shelf to be edited for your situation.On the borrowing end, I've always just pointed the seller to the state website and we used them with the blanks filled in as seemed appropriate.

But there's no reason to let that hinder or dictate timing of your 1031.A partial exchange may be appropriate - This is where you purchase less than what you sell or take cash out of the sale.