And double closing is frowned upon because you knew of someone willing to pay more before you bought it.What you can do is form an LLC, get the short sale under contract under that LLC and if it looks like it is going to close, sell the LLC prior to close.If it doesn't close you can re-use the LLC.

Although it is not the conventional approach, our Roth IRAs now double as our EF.   

You could possible do a double close as long as your profit doesn't exceed their maximum allowable resell price which usually lasts about 90 days. 

A lot depends on the BFE too so look at that and the insurance (then double it ) and see if it works.   

We started with 50k total and doubled to 100k.  

I also asked the realtor if he was to find me another investor how much can I ask for to make a double closing (kind of like a wholesale) and he told me he can ask for 89k that way everyone can make some money.

This makes us take on higher risk.When the tenant doesn't pay, we hate the idea of losing rent so we let them stay and hope they pay as promised.When the cheap contractor doesn't finish the job or doesn't do it right, we hate to lose what we've already invested in the project and hate having to pay even more to do it right.When I knew the house would be a loser, I doubled down like a gambler when I should have walked.Don't let loss aversion make you risk tolerant!  

HI @Kevin Hockaday , there are many creative ways to wholesale them such as double closings, etc.  

Listing agent said only accepting cash offers, but convinced him to take conventional by offering directly through him (so he could make double commission).

Taxing an LLC as an S-Corp is done as a tax mitigation strategy, because he avoid the double dip of straight C-Corp taxes.