Or get your license and you can also move them thru the MLS.It just seems like you are buying and holding yourself right into possible bankruptcy.  

They have nothing in the bank to cover any losses from hurricanes and they constantly try to force us to switch to one of these fly by night phoney's who will declare bankruptcy as soon as the next storm hits.

Hello Steve -I am a lawyer (bankruptcy law) and had a similar experience with law school (albeit 20 years ago).

"Life events" include, not limited to, death, incapacitation, bankruptcy, divorce, health issues and disability as well as law suits.

Your seller has some life issue where his finances become known, divorce, bankruptcy, he becomes incapacitated, he dies, he goes to an attorney to buy another home and he mentions it, his taxes are audited, he tries to refinance his mortgage and it surfaces as an asset, he attempts to qualify for any government entitlement or benefit, he talks to a Realtor, he hears about selling notes for cash and attempts to do so.....I could go on, point is, you can not hide what you did, it will surface someday.Statutes of limitations vary, but fraud is universal in that the limitation begins upon the discovery of the fraud.Welcome, "you can check out but you can never leave"......without paying:)

Several of those that you foreclose on turn out to be a PITA due to someone filing bankruptcy, a mortgage holder challenging you and forcing you to spend money in court to protect your claim, etc.

They are poor, by definition, and often have a bankruptcy, judgement or set of late payments in their past.  

If I were wholesaler, I would go so far as to give them their market options pro's and con's, and even explain their right of bankruptcy to freeze their assets, both pro's and con's.

Look for any red flags (delinquent accounts, bankruptcies, evictions etc) I would also ask for 3 most recent monthly bank statements to verify his income and review their other expenses and spending habits.

Bush single-handedly played a major role in the bankruptcy of this country to satisfy his own personal whims, essentially making him a traitor as far as I'm concerned.