Just tell them they won't meet your criteria or cut off communication.

Here's some hopefully, helpful cut & paste info:------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Any agent who believes that providing a completeproof of funds letter, which they don’t even prepare, is jumping through hoops is simply lazy.

So that’s what I was simply saying was a moot point on the front end discussing with a seller.

We've been to 38 of the big 63 National Parks; both Hot Springs and Broken Bow, which kind of cater to that same crowd, ever seemed appealing enough to visit.It doesn't mean that they are bad places to invest, but the anecdote needs to corroborate the data for me to want to cut a check and stress out for several months hoping it will work.

Others 15 yrs, etc.So we depreciate a portion of the asset costs faster.We do the study and get dollar amounts assigned to different parts and different schedules to front-load depreciation.Now you can get 5 or 6% of the value as a deduction in the early years...But wait... there's more.Bonus depreciation allows you to deduct a certain percentage of cost in the first year an asset is put into service.Anything that is on a schedule of 15 years or less...So the doors, sidewalks, HVAC, walls, latches, curbs, security, gates, etcA % of this stuff goes in Yr 1.For years 2015 through 2017, first-year bonus depreciation for these items was set at 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019, 0% in 2020.But then the Tax Cuts and Jobs act moved this percentage to 100% from 2017 to 2022 and 80% in 2023 and 60% in 2024.Its not uncommon to allocate 30% of an asset cost to items that can be depreciated on a 15 year or faster time frame.So now 60% of that 30% of your asset's cost can be depreciated in the first year, excluding land.Pretty great.This is how real estate owners, investors, and operators make millions and pay very little in taxes compared to W2 employees.They pay even less and can offset other types of income if they are an RE Pro.

I'm assuming it works by using this non-refundable EMD or they are simply daisy chaining.Ultimately, how can end buyers be most protected from fault of the wholesaler or property owner? 

Out of state seems harder to break into simply because I'm not there - maybe Hoboken /Jersey city or further like @Eric Hajdu mentioned are better places to start.Out of state is not difficult to get into. 

Or simply to help the other LLC pay for expenses?

I just simply still want to service my accounts here on Long Island so I would probably stay at my moms house for a few months out of the year.