In a wholesale transaction the seller is in some kind of financial trouble which the wholesaler is helping to resolve.You have two options an assignment or a double closing:I haven't done an assignment myself so not sure completely of the process, but in a double closing there is already a contract with the seller and the wholesaler who is fixing the liens on the title, when that is resolved there is a closing date where the wholesaler execute the contract with the seller and you execute the contract with the wholesaler.In general the closing cost in these type of transactions are covered by the buyer which it could be around 3.5% and it does not include sales agent fees.There is one thing that I didn't understand, it seems that the hard money lender is in charge of the transaction.

This area is really in need of affordable housing, but with the large down payment requirement it rules out this option for many.

We continue to pursue alternative refinancing options and anticipate having a new loan closed within the next six months.

I find that these agreements spell out duties and responsibilities without relinquishing any security for the investor and they can spell out any number of options when things go wrong.

@Ryan LouzThe Columbus market is a great option.

I guess the upside for option B is they they could get a little short term cash but then they resign they will be hit with a larger bill.

If this is your case, then your best option is to get an FHA loan on a small multifamily and house hack.

If you would like more information regarding your loan options, feel free to contact me! 

I'm considering investing in real estate to accelerate the growth of my wealth, and wanted to see what my options are.

You do have to think through your options, you said you wanted to take the 500k tax exemption by selling with the 5 year window.