Whether you hire the highest bidder or the lowest bidder , you will need to have a process in place to identify and handle this situation  . 2.

There is a lot of stress in finding replacement property, identifying, closing, etc. it’s more than 1 form,, HUD statements, previous years tax returns, your tax bracket, Obama care tax add one, etc. 

If you are able to close and you will buy the property anyway then flip it there is no need to identify yourself as a wholesaler.

And how did you identify if the deal was a good one?

I like the idea of offering the rental to the beat qualified tenant, but it seems that most offer to the first qualified tenant for the reason you identified above. 

To build off Mike's suggestion of systems start with a workflow diagram: identify clearly the type of property you want, identify your market and WHY that's your market (you don't have to be perfect or even right, just list your why's), learn the expected purchase prices in your market (even if you only estimate from MLS), learn your expected rental rates, identify your key team members (realtor, accountant, lender or broker, etc).

I am looking for a realtor that could help identify some opportunities in the area.

I would then sub-lease the property to tenants and manage the property, retaining the rents minus expenses.Advantages to me:  greater cash flow now, as I would be free to rent out the property and keep all revenues (minus expenses and the 2% lease fee)I can use the purchase in 3 years as the replacement property in a 1031 of another property, alleviating some of the concerns around finding replacements.Advantages to him:  less tax, and therefore better returns.Here are the downsides that I can identify, and I'm looking for input on others:I have to pay tax on the net income, as I would have no offsetting appreciation. 

they had plenty of time to identify the problem. 

It’s a simple concept, but investors sometimes struggle to identify which properties have the potential for good profit.