If you intend to write contracts with no ability or intention to close, I would consider a different alternative.

Keep in mind the second home loan with 10% down is underwritten with the intent of the property being used as a second home so it is not typically seen as reasonable that a married couple would have separate vacation homes in the same market and this may cause underwriting issues. 

I would recommend surrounding yourself with additional strategies on how to acquire a property with the intent to hold it long term. 

I have no hard data to back this claim up besides personal experience and I don't intent to paint with too broad of a brush, but the sheer amount of people I run into here on BP and in my local area that are thinking of 'starting a fund' or 'syndicating this deal' with less than five deals under their belt and not finance background blows my mind. 

Welcome to a breath of fresh air. 

It was not my intent to engage in that debate, but rather mention the issue to a new wholesaler considering what they need to start their business.

Signing contracts with no ability and intention to close is called FRAUD

It's gets old hearing comments from people with doom and gloom about retail that do not live it and breathe it day to day.Online IS NOT,IS NOT killing brick and mortar retail.Online sales used to be about 2% of all sales many years ago.

I would like to know more about your intention.

If you told him your true intentions he would never take the deal.