Assuming your friend has a contract with the management company it sounds like (s)he may be in breach of that and could possibly be sued for damages.

Before you get a flip under contract it is important to know that you have a vendor/contractor you can trust that will do the work needed.

Those stores go with whoever wins the cheapest contract. 

My question is: when wholesaling, after finding a great deal, do you need real proof of funds to the get the property under contact or is there a way to get it under contract, find a buyer and complete a double closing/assign the right to sell without actually having the cash for the property? 

It's my understanding that REIA is decentralized, they allow almost, if not everyone to teach or give instruction at these meetings, I don't care if someone made a million of contract for deeds and did them for 25 years, they aren't experts today nor should they be teaching out dated strategies, which is what you'll usually find with old timers. :)

I ended up getting around 9 deals under-contract, while constantly being pressured by my manager to get more deals under-contract or he would publicly mock us in front of everybody.

Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

I noticed the market was shifting, so didn't run to get under contract until day 43 of the identification period.

You can set up an LLC after you've gotten under contract on a deal!

Electric: is the easiest to split, but may require holes cut in walls to separate the units.Gas: gas lines aren't as flexible as wires, but it can usually be done affordably.Water: most cities will NOT install additional water meters on a property.