Wholesaling is real but the way many approach it lately as a result of the Internet gurus hawking their courses has resulted in sellers getting burned and actual investors being presented deals that waste everyone's time.Best of luck but it sounds like a pretty ambitious plan with limited plans up front.

Even if you can forget that if the place burns down with tenants in it, you - yes, you - as the owner - are going to prison for a lifetime - yeah, let that go. 

(They are often damaged too) What is the cost for demo, then reconstruction (get actual bids) In regard to permit fees, many areas give credit back on fees for burned homes, ask if yours does. 

Hi @Lacey Burns could you tell me who your tc is?

Real estate can burn to the ground, be flooded or be broken into and has cap ex.

You don't want to burn any bridges by miscommunications or not properly addressing resolution paths, buy-outs, exits, etc. in a legal manner on paper and signed by parties.

Good let them crash and burn, we will pick up the crumbs :) 

For example, if the house burns down the lender wants to be paid out by the insurance company. 

Quote from @Scot Burns: Scenario: You buy a house after it there was a death in it due to accidental fentanyl exposure.

If the neighbor's house is struck by lightning and burns down, what is your personal loss?