While technically business purpose loans, these will still basically be 30yr (or whatever tenor) fixed rate mortgages.

I also have talked with this company but I feel they are not telling me the whole story, makes me leery of this business.

However, a relative of mine has also expressed interest in investing their own funds into this venture and splitting the proceeds. 

I have a small wholesaling business that operates in King, Pierce, and Thurston counties.

The issue is you cannot force insurance companies to do business in the state.

Unfortunately, the tenant didn’t think me showing up to have a brief conversation was important enough to fit me in her busy schedule.

There is a flaw in the business model and thier internal processes need a lot of work.First the good,Yes, I got paid every month.Nomad found me good renters.Next the badDue to needing to make the guaranteed rent they rented my unit below market valueIn communicating with Nomad they were disorganized, often sending conflicting messages and not alignedNomad offered to find me a repair company, that compnany charged $400 for a $25 dollar part and I was stuck with Nomad saying "not their problem" and the vendor saying Nomad was the client not me.Nomad was horrible to my renters as their property management term ended.

My opinion is a lack of business organization.

I would focus on being an agent and building that business.

But I agree with you these guys pass up a ton of listing opportunities and given the amount of money they spend thats just wasting marketing dollars in my mind.. the laws are changing on wholesale assignment business model.. like most things RE its always changing and evolving.