It allows you, the wholesaler, to transfer your rights to purchase the property to an investor.

Kyle,Before you do this call your lender or who ever is serviing the mortgage and find out if they allow a transition into an LLC or if they have a "Due on Sale Clause". 

In real terms you would walk away from an investment long before a primary residence and therefore most banks will not allow it for anything less than 10%.

Quote from @Doug Teasdale: Quote from @Dustin Tucker: Hello Doug,  Here is the Arizona Association of Realtors Forms page.https://www.aaronline.com/manage-risk/sample-forms/residenti...You will probably need to use the Residential Resale Contract.For the Buyer as an example use "Doug Teasdale and/or assigns"  This allows you to assign the contract to your wholesale buyer.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

You could form an LLC and have the operating agreement that allows your boss to require you to purchase his membership interest (or allow you to purchase his) in a given time frame.

After some research online, I am reading that the cost per square foot on a gut renovation of this nature in Stamford CT is anywhere from $150-$350, which is ultimately not very helpful, because at $150 per sq ft, this is a very appealing project with a total profit of ~$175K (46% ROI) and at $350 per sq ft, it very much isn't, because it would be a net loss of 83K (haha).QUESTIONS:What can I do refine my estimate a bit given that I am not allowed to a formal inspection on the property? 

Also check into bylaws to see if you are allows a second freestanding dwelling on your property.

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Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.