This doesn't require you to actually own the property but still control it and potentially set yourself up for money up front, monthly, and on the back end.I am looking to find investors who are using this exit strategy for their business who can provide any Automation tips for the selling process. 

If he still doesn't come down, ask if he is willing to seller finance at least some of it.

John Thedford are you saying that Florida doesn't allow wholesaling?

It just doesn't have to be YOUR money.It could be a partner who brings cash to the relationship / partnership / joint venture / whatever.Cash-poor "lone rangers" don't fare very well in REI.

Seems to me that if the seller doesn't need the money they would potentially make a far better return on their investment by using seller financing vs putting it in the bank or investing it in mutual funds or stocks.

If anyone has had a positive experience and doesn't mind sharing, I would appreciate it. 

@Michael Rogers what IMO @Bob Bowling is basically saying is that cap rate doesn't make any difference on the price evaluation of your property for SFR or anything really that isn't considered "commercial" so why bother even figuring it up.

That particularly house of mine doesn't cash flow well because I have it on a 15 year loan, but the equity is building incredible fast, so I don't mind. it would cash flow quite nicely if I refi'd to a 30, but I'd rather get it paid off sooner. 

That way he doesn't have to pad his bid in case materials cost more than he anticipates.

@Gary Montgomery Here is a link to your answer:SC TAXESNC doesn't change taxes on owner occupied Vs, non-owner occupied.