Wholesaler,fee taker,etc. whatever you call it if I am the listing broker for my client and you come with the little to no skin in the game you won't be locking up any of my client's properties.If the client demands it then fine but most of my clients are somewhat sophisticated.What I don't like is that in a wholesale transaction the seller doesn't know the STRENGTH or CAPABILITY of the end buyer with these wholesalers trying to lock something up and then leave unscathed if it falls apart.This reminds me years ago when I did residential short sales.I would get calls from sellers who was contacted by one of these wholesalers or a regular investor.They would take all the sellers financial docs and say they submitted to the bank for approval.I found out papers were never submitted or the package was incomplete.The investors never returned papers to the sellers and the buyers were gone "like a fart in the wind".I had to come in and do damage control to fix things.Another classic is the investor gets the seller to sign a quit claim deed and then disappears and now the seller can't sell if they wanted to.We had a saying when we first got licensed as an agent.The head broker said "you learned just enough to pass the test".Now comes the hard part of learning your skill with a proper mentor so you don't "practice on the public".Then he said "you know just enough to be dangerous"So I feel just like new agents some wholesalers cause massive damage out there.We have our contract where the seller allows assigning into a corporation the buyer owns,assigning to another buyer,or not assigning at all without written permission and review by the seller first.I think wholesalers should pay a very hefty fee if they can't perform.They won't do it again and they will think very hard about the purchase price and not over valuing before putting a property under contract.There are a lot of wannabe buyers out there.A broker saves the seller time weeding them out.Purchase price,terms,deal structure means little to nothing if the buyer has a low chance of performing.I don't have anything against people with no money trying to get a leg up.I wasn't born with a silver spoon and had to start out small.Just be realistic and do not try to do a deal you aren't qualified for or have the means of following through on.Partner with someone more knowledgable who can guide you away from mistakes and help you.To one posters comment about we are all in this for the money.I would DISAGREE that that's the only or sole reason.I enjoy real estate on many levels besides the monetary aspect of it.There are many things I could do for money and I wouldn't last long at them for the simple fact that besides the monetary aspect they do nothing for me.

While legally the agent can probably market it for you with the seller's permission (though this will be state-by-state), it's unlikely the MLS rules will allow you to market the property on the MLS before you own the property.

We are here to learn, so with your permission, I shall summarize what we have leaned from your experience...* Don't make the tenants responsible for ALL maintenance for they will not fix anything.* Have an inspection move-in form completed and signed upon moving-in, plus note in the lease that the unit is accepted in as-is condition, the tenant have inspected it and is satisfied with the condition.P.S.

Get permission in writing from seller to communicate with bank.

What I want to do is get their permission to assist them in wholesaling their wholesale deals.

This individual can be a tenant or owner, doesn't matter as long as the tenant has written permission from the owner to rent short term.In the carriage house scenario (assuming the property is zoned for an ADU as James mentioned) your tenant lives in the carriage house, since the main house presumably will generate more revenue on Airbnb. 

Patrick Daley Thompson, 11th, told Crain’s the proposal could have at least two unintended consequences.First, in the hot Bridgeport neighborhood, which is part of his ward and where he lives, the ADU ordinance could have the unintended consequence of making property less affordable rather than more.If owners know it’s permissible to add another rent-generating unit to a residential property, Thompson said, “they’ll charge a higher price for (selling) it,” adding to the escalation in home prices there.Second, encouraging construction of additional units would intensify development in neighborhoods like Bridgeport when what’s needed to help solve some of the city’s inequities is a push for development in Englewood, Austin and other disinvested areas.

., state permission) at significant cost simply to exercise their common law right to assign a contract to another party. 

@Kris Eubanks not only should they require proof of funds, but our contracts state not assignable without written permission of the seller, and I would not advise my client to change that term.

You'll have to set the permissions on the link in Google Drive to "anyone with the link" can view.Unable to see the video.