Can any lawyers out there verify this (sounds right to me)?

It can always explode on you down the road.Get a good lawyer, a good RMLO, and document everything.Hell I am starting to video people's agreements like a deposition and 2 attorneys, just read into the iphone the agreement please! 

@Raven JenningsI will send you a PM with the email information of a great lawyer in the DC area.

Not a Lawyer.

I have talk to bankers, lawyers, politicians, and ask each one to let's talk about the Dodd-Frank act, and they look at me like what watermelon truck did you come into town on.

Since you're probably going to be working in one of your local markets, you should really go to a local REIA in your area and begin the process of making friends so you can put your team together - find recommendations for title and escrow companies, contract lawyers, buyers, etc., and to ask specific questions to those wholesaling in your area.Here's one BP post about Wholesaling steps:Structure of Wholesaling

Try www.passtherealestatetest.com Actual up to date and current exam information written by the same lawyers who wrote the exam.

I just structured a deal and getting my son ( a lawyer ) to go in 50/50.

But because of that there is a lot of competition there right now.I would suggest paying a lawyer and CPA to determine the best entity for what he will be doing.

The cap rate is 7.8% and price per square foot is $285, which also seems to be lower than much of what is on the market for renovated houses- new renovations are ~$400+ I'm projecting our ROI will be 8.8%, using the current rents.We're having an engineer inspect the house tomorrow, and our lawyer is reviewing the leases...