.- You build your reputation- you can build a buyers list or a wholesalers list of sellers- you can find private lenders, so you won't need partners - you find mentors who are experienced- and you will find dealsHappy hunting!

I needed to validate he got bids from licensed electricians, and plumbers prior to closing on this deal.

I know it has a bad reputation but when you really get into how it works and talk to people doing it.

If someone is big enough they normally ask you use their title company since they have all the information needed and a good reputation.

@Daniel Weber @Chris Isley thank you both for the quick and grest insight.As far as the contractor is concerned, for this scenario, do you suggest finding a contractor who will (or can) subcontract other professionals (example electricians, plumbers etc) or finding someone for each particular job that needs to be completed?

It behoves us to either breath deep and allow the booking or to check with a reputable lawyer before declining the booking. 

Everyone from the successful plumber to the young, professional couples just starting out live here.

They're going to want to see that you know what you're doing and can pull it off.There are plenty of reputable HMLs here on BP.

Also, can you include a link to a reputable online source for this $100k/$150k idea?

Depending on the strength of the borrower, this tactic either results in a lower rate, or a bad reputation.