Chatham writes:   In an effort to reduce the ambiguity in this area, the Department recommends that mortgagees or other associated financial institutions        report property with any available valuation information (emphasis added) and their corresponding date of death mortgage balances so    the Department can adequately respond and provide the appropriate consideration. 

Do these seem adequate? 

I hope I have adequately addressed and answered all questions, in this thread.

@Ray SouthernIf you are purchasing residential properties (1-4 units) or small multis owned by mom-n-pop operators, most of the time these are not run as businesses, so not having adequate financial records is the norm.When you deal with larger properties you will have more sophisticated owners and "professional" management, and, in those instances, you should expect proper financial statements (though perhaps not full access until after you have an accepted LOI in place).

You will find it more difficult to acquire financing under a LLC and it will not provide any better protection than adequate insurance coverage which you will need anyway.

I would like to know if: 1) anyone is currently doing this; 2) if you all think it would work and 3) did I adequately cover all the potential risks?

Just dawned on me, and I'm not an electrician, but......the simple fact that the wire is Romex, as opposed to individual strands in a conduit, as long as they are of adequate size (maybe 10 awg?)

The bid gogs will eat you alive and spit you out, never to be heard from again.I strongly encourage anyone without adequate experience to seek out someone who does have the ability to compete with the big dogs.

Why should the Wholesaler get paid when the original buyer backs out because the double-closing wasn't adequately disclosed?  

They will also effectively utilize the labor of others and systematize/automate all processes.It is at least a business that will have rapidly growing demand in the coming years that will be less cyclical than some other aspects of RE that depends on adequate inventory, price cycle, economic cycles, etc.