Of course, you need to read The Ultimate Beginners Guide to REI here on BPIf you haven’t already, please read/listen to these books ASAP!

What contingency does a wholesale use in their offerWhat happens if the wholesale does not re-sell or assign their contract, is the seller mad, disappointed, ready to file for specific performance law suit? 

They have no way of knowing how long it will take them to sell their home and be able to perform on your contract.  

Fill in the foundation below.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

You may want to check this post: The Ultimate Beginner’s Guide to Real Estate Wholesaling

If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and don't forget to set up your Keyword Alerts!

Fill in the foundation below.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

However don't think they just "happen" and are reported like your primary residence exclusion.  1031 exchanges must be performed for you by a qualified intermediary and put in place prior to the sale of your old property.  

When you sell the home, most buyers perform inspections and so work has to be done right.

I feel like this post would help a lot of other beginners other than myself as well!