Or does it compress according to their initial basis?

We initially had around $45k in the project, with our construction loan being $161.6k.  

I also want to build that legacy for my children which is why I named my company LKE which is my 3 children's first initials.

@Jesse Hummel, not that it matters too much, but it might help us assess the Sellers' thought processes if you told us the initial asking price.

But that sounds like a good way to raise initial capital.

The initial boost will come as people watch their stocks and bonds decline from negative rates and a weak middle class economy, and look to take charge of their nest eggs.

Taxes aren't really a closing cost (except maybe for a buyer getting a conventional mortgage that requires an initial escrow deposit).I'd expect that most wholesaler contracts would not generally say the buyer would pay the pro-rated amount of real estate taxes owed.  

Initial term is 12 months, and will then renew annually unless owner terminates within 30 days of the end of the contract.

Correct me if I'm wrong, but in NY and NJ, the RE Agent typically does initial negotiation and from there both parties hire attorneys to draft the Sales Contract and handle closing. 

It will take a bit of hard work and some initial capital, but can be fruitful if you get good at it.