I have gone to seminars, listened to podcasts, read books, and I even worked for a credit agency that ran credit checks on people and reported to the IRS.

You can taint her credit and let it hang over her for the years to come with a collection agency chasing your monies, but youll most likely not see a penny. 

Options include but not limited to:1) private lending - you can do it directly with flippers or through agencies that offer such services2) invest in the commercial real estate ( can be apartments or other assets) via syndications - you can find a lot of us here on BP. 

Based on my own understanding, the big differentiator for needing a license is based on fiduciary responsibilities, also known as Agency(with a capital A.)

The Agency is well aware that unlicensed “wholesalers” are rampant in our jurisdiction.

Has anyone had success with a contingency fee collection agency?   

But, I do prescreening before its even gets to the point of a prospective tenant paying the $40 fee (directly to agency.

I think your best bet is to reach out to the commercial broker agencies in your area and ask them about the process.

Is there a comparable Website for searching “Homes for Sale by Owner” as the MLS for Agency Listings?

Taking my RE couse soon , any agencies in NYC that has good training for newbies ?