And that is the reason why a LIRP can provide much more retirement income.You don't pay interest on the loans and the death benefit pays off the loans when you die.

And if the buyer defaults and stops paying, then you just foreclose on them just as any bank would foreclose on a buyer who stops paying.

There’s usually not more than one investor with interest in any parcel so there’s is absolutely no incentive for the investor to pay a “wholesaler’s fee” in this scenario.In the scenario where the land is ready for development, and the economic conditions make development a profitable activity, the land owner has already been approached by the developer or multiple parties with offers to purchase.  

I would also pay by activity not by the hour.  

We let prospective renters know what our criteria are prior to them paying $55 to be checked.

I would never fund a newbie .. and if I am doing something like this for myself out of my home market that I know very well.. instead of paying for a guru course..

I also have hosted an international student with a program that pays.

You have to pay to live somewhere.

And I understand (I think) your making interest only payments until you pay back the loan?

Yes, you can go visit Class C & D tenants at their homes to convince them to sign up for auto-pay, but:1) Once you leave they will revert2) Their biggest problem is NSFs!