It's just stupid for anyone involved in the transaction to rely upon it to convey good title at a later date. 

Hopefully your name is on the deed/title.

Chances you can get a company to do title, pay cash and come to an agreement within a week is going to be very challenging.

His attorney can have him file BK, but thats about it.Otherwise buy it at auction. then you own it and get clear title.

We had one offer for $100K but that fell through due to refusal of the title company to insure title. 

Naturally your relinquished property will have to sell prior to taking title to the replacement, but this would put you in a better position for a successful exchange.

@Theresa Hansen you got me reading this based on the way you titled the post.

Quote from @David Lutz: @Jeremy H.The title of the post was to grab eyeballs, a more accurate title would have been “myth of cashflow in the early years for OOS investors who are not handymen doing their own repairs on lower class properties” but that’s not nearly as catchy.

You can, however, ask a Realtor to just list your property in the MLS for a flat fee and do nothing else, meaning you answer any and all enquiries, show the property, do your own negotiations and make arrangements for the closing with either a title company or a real estate lawyer.

So I'm done talking about this topic and I clearly should be investing in real estate and have talked with real estate lawyers, agents, title companies, and all the wholesaling meet-ups and all the paid realty group meetings.It doesn't matter if you are willing to do the learning I have for free, you will learn about how to complete your first deal and it won't cost you a dime.If you have 10k to blow, you could have put that into a multifamily you could live it for a year and start building equity or do what I did.