"When presented with such an agreement, "a court is not free to alter the contract to reflect its personal notions of fairness and equity."

Yes, certainly.The notion that, "But, but, but...the law of Contract!!!"

I find it a foolish notion to believe banks wouldn't risk the house when they know that bailouts are hard to come by.Dodd Frank is as clumsy as Obama Care.

It sounds like you have the wrong notion that I didn't want this property.

One of the fallacies that I think does exist is the notion that new investors need motivation and morale support. 

I don't understand this statement and I hear/read it often. Isn't the bottom line the price you pay for a property -more important than terms? If a seller wants 50K and you want to pay 40K, how would modifying terms...

I am not a Wholesaler but if there has to be this much debate over telling the full truth about your actual role in a transaction, it sounds fishy to begin with :) I also disagree with the notion that telling a seller the full truth will somehow complicate the transaction.

So then there is the notion of having the LLC take ownership.

Unlike the preconceived notions about lawyer costs, its actually a lot less expensive to hire an attorney, than work with a realtor, if youre able to find the properties, buyers or sellers, on your own.For example, I just worked on a sale of a condo in San Mateo, for the seller.

Not what a wholesaler does.I don't know if real estate operator has a blue color connotation, but it definitely does carry with it the notion that the person involved is not a licensed professional.Wholesaling basically is blue collar work.