The relationship is straightforward and you don't need to know much else legally.

Since the previous owner is getting most of the proceeds does the closing attorney issue him a 1099S and then issue my company one for a much lower amount?

Use the top three or four discriminators so applicants can screen themselves.Then you need to have clear screening criteria yourself.

It has so much potential.

There was an STR boom when many people bought homes here thinking they could have passive income, but that is not the case here as much as it is in places like Asheville (which is still seasonal, but not as much).

It is right on the fringe of being legal/illegal, and lawmakers have been talking about how to regulate it for years because it can be a dangerous process that leaves end Buyers feeling like they weren't represented.....especially when they see the closing statement and find out how much the wholesaler made just by getting to the Seller first. 

Try to make your messages more personalized to avoid getting blocked again.You can email [email protected] with any  help you  need, too. 

Far more than most real estate acitivies and much quicker think about it.. you sell the same info over and over and get paid instantly you have no roofs to fix no tenants to manage etc etc.. you do have reputation management of course.

They yield results, but I understand a lot of other people have jobs where they cannot spend so much time on their listings. 

The broker giving advice is akin to asking the barber if you need a haircut.