As Grant says Contacts are Contracts.  

I was not able to sue because lawyers thought he would be uncollectable and the county prosecutor's office stated that since it was a breach of contract it was not a civil matter. 

Is anyone aware of legal issues with this?

I carry a very small, very light 8 shot 22 caliber revolver everywhere that's legal.

My advice for anyone looking to hire a PM company is: Review the contract very carefully!

If lenders would consider a 2-3% buyers agent commission as part of the purchase price and LTV based on this (contract price + buyers agent commission) we can end this Byzantine step of the buyer’s agent having a separate agreement executed with the seller for the seller to offer to cover the buyers agent commission.  

As Remington mentioned above, I would be cautious while wholesaling since so many wholesalers try to go around without disclosures and simple contracts.

https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

@Andres Triveno, operating the LLC 100% means that we sign contracts and other documents as member or manager of the LLC instead of using our own names, we have a business phone instead of using our personal phone, we have a business checking account for business spend.

As opposed to fixer SFRs, you can figure out who a lot of potential buyers are, and assign the contract during escrow.