Sales is how we convert a prospect to take action and complete a transaction.

This sounds like it will solve the assigning/contract issue you are having as well as it will turn it back into a conventional flip deal rather than a wholesale prospect.

I tell the prospect the street and block number and tell them to visit if they haven't contacted me from my "for rent" sign out front.

I charge an application fee which I collect when the prospect returns the application and use that to do credit check and process the app.

You should ask prospective brokers if there would be any sort of discount when you sell your own properties.

Mailing 5-7 times to each prospect.1.

The sellers know that, and so do the agents, so you will get pushback from most seller's agents when they learn you are trying to wholesale - our hood isn't very wholesale friendly to begin with, and less friendly when there are active buyers like we have right now.From an investor prospective - it would be sweet to get somebody else to do all the heavy lifting of finding a deal that I could wholesale and only have to answer a couple questions and pass some paper (there's more to it than that, but...). 

When I was in your spot, I just sent out some yellow letters to these prospects and started fielding calls.

For the second time during a call with a prospective seller, when I ask if the mortgage is current or anything relating to the mortgage, the seller has asked me why is this relevant.

For example.Investor lends 100k for the purchase of a 500k duplex.Homeowner lives in one property and rents out the second property for 1500 a month.Pays the investor 834 a month (10,008 annually) and keeps the remaining 666 from the income property.The investor is getting a 10% roi while the prospective owner is getting some income from the rental property, access to the housing market (and as such all of the associated tax benefits) and doesn't have to pay mortgage insurance.Of course there would need to be some sort of security and the lender could have their name on the deed?