I believe that he actually has a management team in place for the portfolio, so a stipulation of sale if we carry forward is I want his team.

I have been down the whole 203k loan process when I was trying to process a loan for a buyer, I will tell you its a real headache there are so many stipulations and rules with these loans.

I am by no means a wholesaling expert however, if you use an exit strategy of "assignment of contract" your investor buyer signs (as do you) a form entitled assignment of contract which stipulates that they are to take over the purchase contract and pay you a fee.Keep in mind that your buyer will have to be an all cash buyer, or at least pay the assignment fee in cash as a lender will not loan on the purchase price + assignment fee (in most cases that I am currently aware of).Your other option is to double close which involves you having a title company willing, familiar, and able to do them.

Finding the right solid individuals, evaluating the actual investment, expected yields I should be prepared for, any stipulations or questions I should need answered before committing, setting up the deal etc.).

When you put a offer in here you automatically without putting any stipulations on the contract get 4 days to back out for any reason.

He's moved out of the house and I do believe that is one stipulation of a loan modification.

You'll be asked to justify any rent you ask and provide at least a stipulation that you're charging your "normal" rate.

My next contract should definitely have more stipulations focused on communication and potential penalties for miscommunication or accounting mistakes....right?

Since you control the project, he may feel a stronger position to recoup losses than you.You could either offer him a greater upside on initial projects, with stipulation that after one or more deals profit, youve proved up and it goes to 50/50, or accept his deal based on the confidence that it is under your control so you wont have losses.

For something such as this you could simply write up a word doc stating the terms, payments, and stipulations.