Scenario: I wish to procure a lot near a university and build a house that would be rented out to students by the room. 

See above.By procuring your property, you will see what is involved.

Usually the latter eventually reach a point where expenses exceed revenue, at which point either more revenue must be procured or expenses have to go away (often the latter, through bankruptcy, chargeoff, whatever).

As for how you do this, I am not familiar with the TX market, but in AZ, you (and the Buyer) just agree to a Title (Escrow) company, they (Escrow agent) procure a Title Policy and write up a Promissory Note and a Deed of Trust which gets filed with the County.  

What you are doing: (8) Assists or directs in procuring or referring of leads or prospects, intended to result in the sale, exchange, lease, or rental of real estate.

Under the , a license is required for a person to procure or assist in procuring, for a fee or other consideration (commission), property for a prospective purchaser of real estate.

First, Joel Owens is a very wise brother, whom I follow and I would only be parroting EVERYTHING he has just said.With that, here is my .02. . .I am a big teddybear and usually lead with my heart on most things. . .until it comes to real estate!

I look at it this way: If he didn't renew, you'd probably have to do that stuff anyway to procure a new tenant, correct?

Would it be possible to procure a contract for the purposes of Wholesaling Real Estate from you?

(8) Assists or directs in procuring or referring of leads or prospects, intended to result in the sale, exchange, lease, or rental of real estate