Does he understand, Deeds, Due On Sale, Insurance, tax implications, servicing, contracts and so on?

I still am on the lists of all the major wholesalers and still show up to showings occasionally on properties that might have enough margin for me but have not purchased recently from a wholesaler.Just like Adrien says, they provide a service of marketing and negotiating contracts for you.

Also, what's the name of this type of contract where it's just between you and the seller?

most contracts your 5k is your liquidated damages in most contracts. .. so snag that fire the agent and find another buyer if 13k is that important to you.. for sure not worth hiring an attorney for. 

Marcus - do you have the deal under contract?

I like that you can setup different virtual accounts for security deposit let's say, or to separately ledger cash collected through a rent to own contract.

.- Maintain proper records, such as contracts, settlement statements, and promissory notes.

This also leads owners to ASSUME simpler is better when it comes to management contracts.

I know he has some contracting information that looks to be very informative.

But, if steady long term cashflow is a goal, with no management, one can always sell farm land on a low down private contract.