This is hopefully not as complicated as it might sound, but was wondering if any of the great minds on this forum have thoughts on best strategy for current situation.My husband's parents are fortunate enough to own two properties:House #1: A bungalow a few blocks from the beach in Venice Beach, CA - purchased for basically nothing in the 80s, own outright, probably worth about $1.2 million (guessing).House #2: A 3bed 2 bath amazing view house with guest house in Topanga, CA - purchased for basically nothing in the 80s, has a 350k mortgage on it, probably worth about $2 million.

And when you add in a wholesaler to the mix, you probably have an extra level of risk because now you're including another potential complication by adding in a middleman - essentially someone who is in between you (the buyer) and the other party to the transaction (the seller).However, with all that being said, there are ways (in my opinion) to limit your risk in these transactions:1)  Always thoroughly review the purchase contract that is being assigned to you. 

However, the flipper miscalculated rehab costs, and they claimed that things got complicated due to Covid-19 as they couldn't close buyers' escrows for a while. 

Florida is a judicial state so, everything in Florida costs more, and takes longer.

Covid complicates the closing process and I underestimated the impact on current tenants while a property is being sold.

Covid complicates the closing process and I underestimated the impact on current tenants while a property is being sold.

Since it would have delayed/complicated things, only he is on the LLC which has the deed.

Since it would have delayed/complicated things, only he is on the LLC which has the deed.

I’ve found we have been able to write off much of our tax liability on sold properties through depreciation on other properties in our portfolio, so I didn’t even need the benefit (Or complications) of the 1031.Make sure you understand all the intricacies of 1031’s as well... for instance, the funds you receive on your sales can’t touch any of your accounts... they have to go directly to a fiduciary to qualify into the 1031.  

Real Estate isn't complicated, but does require hard work.