When starting out in wholesaling real estate, it's important to use agreements that protect all parties involved while ensuring a smooth transaction process.

Hearing it from someone else solidifies my thought process in analyzing the market.

This would be an easy decision however I do not think you can come close even with you being active in the process.  

Quote from @James Boreno: One of my SFH caught on fire and I'm in the process of selling it to a contractor.

Always get multiple lenders working for you in the due diligence process!

I would love to hear how you all approach this process.

The best strategy I seem to have deployed so far was to contact all my current tenants and let them know I’d give them a cash referral fee of $250 for anyone they recommend to me that goes through the vetting process and successfully moves in.

Would you recomend me buying out my lease, so I can start this process?

Emphasize how this arrangement could work to their benefit, offering steady income, avoiding a traditional sale process, and giving them the freedom to move forward with their plans such as buying that sailboat and sailing around the world.If they ultimately decide they’re not interested in selling, you’re still in a great position to continue your search and buy your own property in the near future.

You need to trust the process and fully immerse yourself in the realm of real estate investing.