It opened my eyes to the associated risk, closing escrow before the sale. 

Reaching out to the BP community for  recommendations of tax and legal professionals close to my area specializing in real estate investing. 

If I wired them $4,200 then they would wire me back $210,000 within 48 hours with no scheduled closing to payoff existing loan.  

It would be a good idea to have an idea in mind of the price/sqft for the rehabs you have in mind, so you don't end up making offers on properties you can't close.

I give them cash for their equity and they show up to closing and sign a Deed and then they move.

Depending on how you want to aquire the property, or flip, or whatever I think you need to strategize how you want to acquire property first then come up with the number based on a percentage of down payment + closing costs of the house prices you are targeting.5) Talk to a few local bank lenders and see what first time home buyer programs they are offering.

Account Closed The profits from the sale of a "business," not the business real property, is considered a capital gain?

You can use an assignment, or you can double-close using transactional funding. 

I'm active in DFW, I've wholesaled 30+ homes in TX.Good deal brother..and congrats on closing those deals..

I will pull permits and I intend it to be under my name once escrow is closed.