There are some situations where hiding the fee's through a double closing may be appropriate but if you are wholesaling "correctly" then all parties should be very aware of what you are doing and understand that their original contract is assignable. 

Then you may be stuck dealing with occupants that refuse to leave, stolen appliances/fixtures/cabinets, a place that's been trashed, outstanding liens that you weren't aware of, etc.I heard of a young lady that got excited about foreclosures about four years ago.

Make sure your sellers sign a memorandum explaining the risks involved in the transaction, and they're aware of the repercussions of informing the lender of the nature of the transaction. 

The other 10% are not harmless so you need to be aware of how to protect yourself and your things.

The other issue a landlord needs to be aware of is if your only buddies have been other felons guess who you're likely to hang around with after you get out (the buddies Bills brother has brought over to his mothers house while she was still alive were guys I wouldn't trust to walk my dog).Gail

Was it in a war zone?

I am aware that it is difficult wholesaling a property that is owned by a financial institution but it seems like a good deal.

I was not aware you could buy houses on Ebay.

I was not aware of the change in Texas law.

The neighborhood is in a small town C Properties (not a war zone D property) just old and abandoned.