If assigning, your next step would be to complete the appropriate assignment contract.

. - Yes, as others stated, you are responsible for collecting any TOT (transient occupancy tax) and submitting appropriately.

You should retitle this thread to attract the appropriate responses.2.  

Would the RE Attorney be appropriate enough?

(lots of varibles here, needs more clarity)To differentiate the questions you've asked I'll label them so that appropriate views on the question can be addressed such as the question about whether you should do the upgrades first or refinance first.

When you do a wholesale deal, you need a purchase agreement with the appropriate clauses to protect yourself and you need to include the fact that you may assign this contract to another buyer so that the seller understands this upfront correct?

We defend the foreclosures and file quiet title actions where appropriate.  

Do not allow yourself to get side-tracked. .A few words of caution are appropriate here.

@Upen Mody,While I understand your pain, I would think that it is up to us as the prospective end-buyers to verify the wholesaler's deal analysis and/or comparables, as appropriate and base our decisions on our own findings.I agree that what ever someone is selling, it would be wonderful if they didn't hype it to the heavens and leave us to sort truth from exaggeration and fiction.

If the former then a 1031 exchange would be appropriate.