If I sold him the building on a land contract for $250k, which is exactly what I have in it, on a 15 year payout, am I correct that the sale would result in a wash, no earnings to be taxed on, and the only taxes I will pay will be on the interest portion of the monthly payments for the next 15 years.  

If you think you will go FHA, Conventional, 203k, etc. and then Quit Claim the property, to a LLC, or a Land Trust you run the risk of the lender discovering a Title Transfer occurred and activating the "Acceleration Clause" or "Due on Sale Clause" that requires the loan to be paid in full, within 'x' number of days.

I don't know how to do that other than short sale so if there is something that I don't know please let me know.

Most of them were very helpful and I only saw a high pressure sales presentation once.  

Hi, Can anyone help me get standard blank purchase and sale agreement contract for wholesaling in the state of Texas or who do I need to contact in order to acquire these contracts?

I ask because I have noticed some condos for sale where it is specified that the buyer must pay all cash without financing.  

A 1031 must be the sale of investment real estate followed by the purchase of new investment real estate.  

They do this to avoid recapture (taxed at 100%) upon sale of the home.

I love targeting the houses that need complete rehab, I'm just finishing one now that will be For Sale.

You'd have to payoff the back taxes at the time of the sale.