@Paul Jamgotch and another major benefit is that you don't need to have a custodian with Solo 401k, you make the investment decision and then simply write the check.

My thinking all along myself is he simply had to let it go.

The court is needed to impute the costs and charges on the other guy, you can not simply say he owes something and send him to collections without proof of him actually being obligated to it.

My first apartment after running away from home to win an Oscar was right by Van Nuys Blvd and Sherman Way.

I've come to realize that my colleagues and friends simply don't have the right mind set for real estate investment -- even though they have no problems investing in the stock market.

You can easily find some by doing a google or yp.com search, BUT here's the key: Call them up and ask them simply "Do you do assignments or double-closings?

Can I simply use an option contract with the wholesaler and then use a regular assignment contract with end buyer?

Should you need to back out of the contract for any reason, you simply need to find an item on the inspection report that would NOT be readily apparent to the average buyer going through the home and looking at the property prior to making the offer.

To get a judgment then you will need to take them to small claims court and win the judgment there.

Two things I am less confident about are: 1) the construction quality (is it a "cracker box", did the foreman let the guys cut corners to make a deadline or save a buck or simply because he was too busy) and 2) if the home in question turns out to inspect well, how how well the neighborhood is going to fare over time if it's less than 5 or 10 years old?