Sorry for the loooong message here but I hope it answered your questions and helps you in crafting your marketing solution!

This is a proven methodology across the industries, and immensely helps in planning, tracking, and controlling the loss of rent when meticulously executed – The data speaks loud and clear, build the data, PLANNING is the KET to CONTROL.

There is more paperwork and red tape but it follows the same process every time so if you learn those things, you can be highly successful.And the added layer of leverage & accountability more than make up for it.I see landlords hating Section 8 for 2 main reasons - bad tenants (which you've mentioned, can be dramatically reduced through meticulous screening) and bureaucratic headaches (see my advice above).Good luck, I've written a few blogs here on BP about succeeding in the niche, in case they're helpful to you!

I am in the beginning stages of learning the craft of wholesaling myself.

God morning everyone.This question is about what are the best steps to craft going forward.

Expect hard work, developing your hustle, and putting in the hours to learn and develop your craft. 

While an LSA can play the role of collecting / remitting payments, accounting and enforcement in the event of default (foreclosure), its not necessary to have an LSA and may add extra layers of complication or expense.I’ve found that if you have a reliable escrow agent: they will handle the crafting of the note and mortgage, arrange for necessary signing / notarizing / recording of the documents & handle distribution of loan funds.

I'd suggest taking a step back and assessing your risk tolerance and exactly what you want from investing, then you can start crafting some criteria.

I intend on crafting a solid contract agreement with my partner so that there'd be no confusion, and I also want to make sure to reduce our risk as much as possible. 

I'm still shocked SFR guys get away with 6%+ commission because they have crafted a better image.