Couple of things.
Curt hit it on the head when he said if you can't close don't mess with REO's. Nothing upsets listing agents more then bailing on a deal. And you will be remembered.
However, setting up an LLC is a way to go. Here is how it goes down. You put an offer on a property "123 Main" and if the offer is accepted you set up an LLC i.e. 123 Main LLC. You then have to go to your buyer and say mr./mrs. buyer I want to sell you a property but I'm not really selling the property but selling my rights in the LLC which has a contractual interest in the property.... Anyway you get the pictrue. If you have not done a deal with this investor before he/she will look at you as if there is an arm growing out of your head!
You could call the lender and ask for your buyers name to be added to the P.A. right before close (this does not work all of the time)
Double close... The bank will always use there title company to pull title, however, you can call their title company once the title is completed and the HUD is set up and tell them you will be closing at your title company. Most of the time this works, however, some times the banks title company will balk and not go along. I've had to sign addendum's to pay all closing cost from the first title company and my title company. no bueno!
Anyway take Curts advise and JV other investors deal. Focus on your buyers list first and locating deals that work for them. Your profit will be smaller, but you can build yourself up and then get into REO's ... Also birddog for more established investors...
Good Luck
