If I was able to provide not just a lead, but an actual homeowner that is ready to sign paperwork, etc.

Of course, the downside is that she has to do 8 hours/year of extra classes and some paperwork

I did my first 3 REO wholesale deals in this manner.After closing, my end buyer gives me my wholesale fee, and I give him a quit claim deed in exchange.I would have an atty draw up the paperwork for you the first time you do it..

The escrow company will do all paperwork with only faxed signatures, ecept the final deeds and loan papers.

However, it seems to me that if you go through all the work of checking it out, tracking it, estimating repairs, negotiating the deal, and delivering all the paperwork ready to go into escrow, the fee would be much larger.

I believe you can download just the Land Contract / Contract for Deed paperwork.

Of course they won't have any paperwork... so don't let them get this one over on you.

I am waiting on the paper work for the house I bought at an IRS auction in Florida.

However, if the owners flake out on me and dont complete the paperwork, then I might just buy it myself directly from the bank to use as a rental.

You'll spend more time thinking of a name than doing the paperwork.