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It is right on the fringe of being legal/illegal, and lawmakers have been talking about how to regulate it for years because it can be a dangerous process that leaves end Buyers feeling like they weren't represented.....especially when they see the closing statement and find out how much the wholesaler made just by getting to the Seller first. 

If worse comes to worse and I need to get a judgement against the tenant and co-signer(s) can I force them to pay?!?

I'm guessing an investor who could afford an $800K house wouldn't have trouble getting a loan, but maybe they would like being able to make a small or 0 downpayment. 

Good for you for getting ahead of the curve.

Also, a good number of people see wholesaling as acting as an unlicensed agent getting net commissions (which are illegal for agents) so some see it as illegitimate entirely. 

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

If there is something going on that is making you fearful then you may want to get law enforcement involved.

How do I get the phone numbers of the owners of the properties?

That's why appraisers do the comparative approach and then secondarily the cost approach.So far, 100% of the time you don't get dollar for dollar back from what I've seen.