I am hoping this experience to be professionally challenging and augmenting as it is my first formal introduction to the real estate business.

They left before a formal eviction.

Taxes are not cookie cutter and whether or not to elect an S-Corporation is based on a ton of different factors including your other sources of income, your retirement goals, your overall income levels and tolerance for the formalities of managing a corporation.If you've got a W2 at anything close to a decent wage, an S-Corp can cost you in taxes rather than save, so be very careful about handing this out (or accepting this) as blanket advice.Whether or not to use a different LLC every time is more of a legal question. 

@Andres Ramirez,While you don't need an LLC to start wholesaling, I'm a big fan of having a formal company. 

I appreciate the feedback - you confirmed what I was thinking myself, guess I need to trust myself a bit more.I plan on getting with a lender as a formality, but I have confidence there. 800+ credit score and 6-figure income.

@Ryan LaurettaI agree with @Taylor L. and I feel the best investments and syndicators are the ones that do not formally advertise.

I have been creeping in the background of bigger pockets long enough and wanted to formally introduce myself.

The agent explains to the occupant that it's just a formality.

Say opening US bank account, any other formalities like execution of contract, mortgage deed etc..Thanks for helping 

And you'll have your money sitting idle for 180 days if the property does get redeemed.Pros: (assuming the property is already vacant or occupied by tenants, and no legal disputes with the homeowners)- It could be a lot cheaper buying process since there is no formal closing process.