Yes, I'm very cautious....So I purchased the home in 1992 ($172,000) with zero down on a 30 year VA loan (7.5%). 

(It doesn't matter if it was lobbyists, or Santa Claus that pushed the State into regulating the activity, once it's a law, it's a law) Rather than warning people to be cautious where they discuss their business, it would make more sense to warn everyone to check with the State Department of Real Estate in the state you will be doing business; and find out for certain, whether or not wholesaling is legal.  

If they are, then the buyer must be cautious to comply or risk much more than just their investment.This, of course, applies to CA, not WA state.

I agree with being cautious and perhaps I missed some details.  

It makes one very cautious!  

SFR in Atlanta is overheated in many areas in my opinion but if your cautious and slow every once in awhile you can find one.There are plenty in trashy areas but most investors do not want to hold those long term.

This is stand company structure stuff.If one investor has a LLC which they desire for the mortgages to be placed into, the other investor must be cautious on how they join in as some manager of the assets.

Playing the devils advocate here...If there is a chance she has dimentia or some sort of mental illness I would be very cautious when approaching this deal.  

I am recommending to anyone I talk to in my area to be very cautious even in the worst area with the cheapest deal in California right now.

But, that said, I have been accused of being overly cautious on occasion.