I have a personal rule I call the "75% Rule"...If a large/capital expense is being consider, I'll determine if the item is past 75% of its typical useful life -- if so, I replace it.

Did you use a cap rate to determine your 1M purchase and now your 1.6M valuation?

Have you you determined any kind of personal guidelines, such as loan limits or total loans out that you are comfortable with? 

Determine what niche you are focusing on.2.

Basically, the spot is determined by the strategy (or the other way around, I suppose).  

The debtor's bankruptcy attorney will counsel them on what they can and cannot enter into, a lease would be something to have approved as it is an ongoing debt obligation and the Trustee will need that to determine what amounts are available for creditors.There is no sneaky way of taking any significant amount of money from a debtor during this period as they are under an audit of their assets and liabilities.

(Not what a CPA or the IRS would tell you of course) Report the profit as you normally do, pay the taxes. 

Once you figure that out, that will help determine what you should do next.  

Wholesalers need to be master marketers, salesman, be able to determine property values both before and after a rehab, do financial analysis etc.Im not trying to discourage you, just to put a realistic twist on things.

In order to determine what's best for you and your goals, you should consult the experts in your circle.