A more sophisticated seller may require a personal guarantee if you are buying in an LLC. 

This is especially true with REO properties or those owned by more sophisticated sellers that have been around the block a few times.

@James Bell I would strongly suggest that you add that clause, and other residential landlords should as well.Also, legal (or semi-legal) MMJ has made the marketplace a lot more sophisticated.

Value adds, rent by room, STR/MTR, lease to own, owner financing are just some of the options available to new investorsFor those with  more experience there is off market purchases, subject to, more sophisticated value adds, CRE, syndications, etc. 

LP type will also factor into your communications -- if you are searching for higher net worth individuals who are more sophisticated (depending on job type), they will likely have a better understanding and require somewhat less  communication/information. 

Transactions such as these are considered to be between sophisticated investors.

As RE investors move from the world of guru books and classrooms into the real world and gain experience in dealing at a higher level of professionalism in sophisticated business transactions, with all of the players that make up the industry, it will become obvious as to why we all need to be on the same page.It is impossible to yield any consistant result from any analysis that is not consistant in it's input of data.

I think wholesaling can be as simple or as sophisticated as you want to make it.

Like a house of cards (lol), my sophisticated idea crumbled and left me scrambling,  I ended up putting a large mortgage on my free and clear rental in '06 and paid them all off.  

Most people with cash to purchase real estate are sophisticated enough to search MLS.