For example, places like Illinois and Oklahoma have specific rules requiring a real estate license for certain types of marketing.This specifically for flipping land using Transactional Funding.If you’ve done this before, what states have you found to be friendly toward this approach?

This was a highly successful transaction.

Works for many agents but those are all miserable (in my opinion) and I don't do any of them.With you avg prices around $360k (and maybe 2.5% or so your side), you really only need to do about six transactions to hit your target.

I think market auctions are better for newer investors because you're able to see the inside of the property and the property will be delivered vacant.If you win you will have to provide a deposit that is held in escrow until the transaction closes.

The instruments needed for the transaction will be state specific which means you should have someone from California chime in with resources who can provide low cost documents (as these will be boiler plate).

Of course our big motivation is commission but you can get commission or a referral fee or something in an off market transaction if done properly.

., are ONLY transaction based.A PMC has to deal with your property, tenants & maintenance EVERY DAY until you sell or terminate them.A great PMC can provide contractors and also check out properties for you. 

Quote from @Jaren Taylor: Quote from @Stuart Udis: Depending on the transaction sizes you are pursuing, raising money to purchase property without debt requires either an incredible network of relationships or devoting a lot of time and effort to raising money.

Communication and setting expectations are key to any smooth financial transaction. 

Selling the PropertyIf your parents decide to sell, they could: Sell As-Is: At a current appraisal of $350k, they could walk away with a sizable profit (after transaction costs like realtor fees, taxes, etc.).