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.

From postings on BP, it is apparent many enter that arena with no money, no ability to close, and no ethics demonstrated by putting properties under contract with BS clauses to walk if they cannot assign.

That's not a professional treatment.

They are acting as an agent without the laws, ethics requirements, education, and insurance that are vital IMO.If you want an education in frauds and scammers, you will get it reading the threads on BP.

They are acting as an agent without the laws, ethics requirements, education, and insurance that are vital IMO

They are ethical and honest.

Legally and ethically this would not cause a problem if you decided to back out of the deal.

In addition, explained that i admitted myself for treatment, which delayed feb and march rent.  

exterminator mentioned to tenant he saw active termite tunnels. i know treatment options vary. 

Also, he admitted to illegally installing a plastic access hatch to get to the pipes (they need to be metal legally), which lets me on to the type of work ethic he has.If I hire a property management company at 10% of rental income, I'll save about $70k a year in expenses and make $200k more if they can rent out another 20 units (I figure 10 units will always be vacant due to natural rent cycles).So, do I ask the sellers to let them go on the day of closing?