But I do know that contracts entered into with fraud are non-enforceable.  

While paypal has agreed with me on something in the past and charged the merchant for the fraud, one problem is that any claim with them has to happen within 30 days. 

The state has put an end to all the frauds that want to broker without a license by the wording in 475.43.

About three years ago I was approached by an investor who had done 4-5 deals, all long term holds, I'll call him Mike to protect his identity. 

I am interested in discussing the purchase of your property at ADDRESS"I certainly don't want to be sued for fraud.

in most states the transaction of wholesaling is illegalthe wholesaler-person who has the contract does not have the funds to purchase the property making it a illegal transactionwhen it is assigned-sold to the buyer for profits with no intention of being a backup purchaser this is also illegalat closing- when the two contracts are closed the wholesaler is responsible for the gain on both transactions of the property- if not doing this, the transaction is considered evasion by the wholesalerthe wholesaler is responsible for the selling cost and the purchasing cost-6%- three to buying agent and three to listing agentlegally you cannot commit fraud to make a real estate dealmost are selling contracts for gainit is not wholesalingenjoy

Well, after we put some money into the house, she decided against moving, so we leased it out.Then another house on the same block went up for sale which we bought last fall, so now we have three identical homes on the same block, all occupied.I created a spreadsheet to try to figure out if we were making any money, and came up with a worksheet that is pretty close to the analysis I've seen here.  

Once the three elements of a contract are completed (offer, acceptance and consideration), the contract is binding upon both parties unless there is fraud or one of very few other ways to make a contract voidable.  

Renting it out without living it in would be mortgage fraud.

It is mortgage fraud - a felony - to say you will live there for the purposes of getting an owner occupied loan, and then not ever plan to live there.I know this isn't what you outlined above, I just wanted to share that with you for future purchases.