An attorney once mentioned that recording can cloud things, so when you are the seller you might not want that (buyer's failure to perform will not make life more difficult to re-sell) - but as the buyer you just might want that ...

the amount you are reselling it for?

I agree that it probably would be difficult to resell.

Take your cash and put it into property that will cash flow.I never buy on appreciation, you are betting on the next three years - but if you hold it any longer you will lose your capital gains exemption not meeting 2 of the last 5 years rule.I just bought a property earlier this month in Denver on the MLS that will gross cash-flow $800 a month with 25% down - I share that because "there are no deals in Denver".You close with $60k in potential on the backend -minus- 3-5k negative each year, higher costs to sell, (although minimal) potential rehab to resell.

You better watch out for foreclosure rescue laws in your state, and FBI and Attorney General's office really doesn't want any consumers messing around with peoples houses that are behind on mortgages doing creative dealsForeclosures and short sales are not a place for you to make a lot of money these days unless there's a huge amount of equity, and even then unless you buy the house out right for cash (ie what not to do is you cure the note and buy on subject to) you're risking getting the authorities involved with foreclosure rescue activitiesYou might consider a joint venture with the seller150,000 minus costs to sell of 10% 15k = 135kPay the 112k = 23k - 10k in repairs = 13kI would see if you could split the 13kGive him a note for 6,500 , Fix the house and resell and make 6500

It just kind of sounds too good to be true if I can resell these for 10x what I paid. 

congrats Mike Watkinseither find another title company that will do the closing as a wholesale  or just take title by closing yourself  and then reselling to the end buyer good luck

So with seeing some recent negative talk about wholesaling properties... essentially obtaining a property at a very discounted price so it can be sold (double close) or passed (assigned) on to an Investor who will pretty up and re sell the property for a profit...

You need a private lender on your team to allow you to buy shortsales - close on them first before you can wholesale them.Also, some banks impose deed restrictions on shortsales - meaning you cannot resell the house in 6 months.

Wholesaling usually means putting a property under contract and then either buying it and then reselling to an investor, or perhaps assigning the contract to an investor.