We just sold an investment property, but my husband inadvertently gave the settlement company the account number for our primary residence mortgage for the payoff (though for anyone checking, this account was clearly associated with our property at a diff address in a diff city but the mortgage amounts were similar) instead of the account number for investment property mortgage. 

I'd like to say I was some genius who waited for the perfect moment, but it all just sort of happened, my business was growing as the housing market crashed.Fast forward a few years to 2012-2014 and my wife at the time and mother to my two kids decided to sneak around, cheat, and have a baby with another man, then claiming it was mine before using this poor kid as extortion to try to get a windfall settlement and child support.

I would start developing a relationship with an attorney that practices as a settlement agent too.

If they can get it ready for settlement and issue you title insurance before the foreclosure sale you are good.

I find a combination of it being much easier to buy (30 settlements vs 1 settlement), manage (30 different addresses vs 1 building, 30 insurance policies vs 1 policy, 30 spring roof inspections vs 1 roof...), and yes, economies of scale ($850/yr insurance on my SFH vs $7k on the building) makes Multis more attractive to me than all SFHs.  

She is well behind on both her credit cards:Chase Bank: 12kCapital One: 4kChase Bank has already offered her a 6k settlement.

Also, you would want to insure for at least 80% of the insurance deemed replacement cost so that you receive the benefit of replacement cost and will not have to have an Actual Cash Value settlement basis. 

After thinking about it for a little bit, it makes sense to assign the rental agreement IF i was also assigning my option to buy, but its still unclear.I was hoping someone could help me figure this out, or even better, point me to a good source of information that goes over the tiny little details of LO sandwich paperwork and how settlement works with them.1) Is it necessary to assign a lease even if i was doing a double closing?

If you wanted to take $100K in cash at closing it can be put on the settlement statement as boot to exchanger and go to you.  

Mindy and Jim are correct, but there is much more to it.Wholesaling the way the gurus teach it has a lot of ethical and legal issues, but set that aside, you can read the forums.As to steps, it depends on the property, buyer and seller requirements, title examination, lien releases and other conditions as to what must be accomplished after a contract is accepted and to get to settlement.