You are engaged in a mutually-beneficial business relationship with another adult.Give reasonable notice (I would probably go with something like, "The lease requires that we give you 24 hours notice, but we don't want to stick you with short notice, so we will be there in 3 days, at 10:00 Am.") and then do you thing.But remember this is business and not playground dominance games.

Should an individual investor create a legal structure (sole proprietor, LLC, etc) before making that first deal or is it ok to engage in wholesaling solely as an individual investor; provided you maintain the proper records needed to file taxes to the IRS?

I guess engaging the service of a Lawyer could tell me for sure, but I am hoping to get some sound advice here.Just a comment: If there truly was a low risk way of getting a property under contract and assigning it to a 3rd party buyer than why wouldn't everyone be using it now.

I have a more-than-full-time job and a young child to keep me plenty engaged during my waking hours. 

@leo LupoliHi LeoAside from the investment aspects of this deal...how might you feel later if later on your parents don't seem to appreciate your efforts on their behalf or engage in " bad choices " related to the payments on the property ?

Also make sure you select a reputable management company, get references, due your diligence on them, ask lots of questions and validate their answers with your real estate broker or other professionals in the marketplace.Not sure the size of assets you are targeting, but you are essentially handing over the keys of a multi-million business to a 3rd party and you need to be very engaged in the process.Good luck

Try not to engage in conversations with them.

@David Buell,Learn to attract and engage private lenders and you'll have funding for more deals than you can find.Meanwhile, explore ways to finish clearing the debts you want to get rid of.

@Leah BonnerI'll echo what others have said in this context: LEARN HOW to attract and engage private lenders.It IS a relationship business - you must first learn what the other person needs just as they need time to learn about you.You will also need to be able to show them how the deal works, why the deal works, how their investment is protected, how the deal produces a profit, how they get paid back and where their profit (interest they earn) comes from.

As I recently got engaged I am looking to sell this property and buy some multi-family.