Maybe if there had just been a severe downturn in the market when I was purchasing (ala 2009) and I had adequate reserves stored away, then maybe. 

Contractually, there must be adequate consideration exchanged for the option contract itself, of course.My issue with wholesaling is the same as others have alluded to: a marketer who is pretending to buy a property but cannot perform and close themselves tie up an opportunity, perhaps using precious time that the seller needs to complete a sale lest something bad happen, such as foreclosure or tax sale. 

You have a responsibility to make sure the unit is in good repair, that there are no leaks in the building envelope, no leaks in the plumbing system, that the unit has adequate ventilation and exhaust systems, and that the unit has adequate heating and cooling.

You must have adequate reserves.

This is an old post, but I've had the same question come up and don't feel that the responses adequately address the question.

Am not sure what adequate furniture would be since different contributors on BP have totally different experienes and I would need financing for the furniture so its important to figure out.

@Lucas Carl No, she had some BS comment about 6 rolls of tp for 8 guests for a weekend not being adequate.

With this in mind, your agent can help you divide the total value of your property among these 3 categories (land, building, and contents) to make sure your policy has adequate limits for the building and furnishings respectively. 

Doubtful you would save fees. 1031 companies to hold funds the good ones have adequate insurance policies and other safeguards which cost money to maintain.My criteria is more the experience of the 1031 company and how credible versus shaving 100 dollars off of a typical fee multi-thousand fee etc.

Not excellent, like those in Hoover, Mountain Brook, Vestavia Hills, or the Oak Mountain area, but still good quality with adequate funding.