California, in their infinite wisdom, has decided to impose a 7% franchise tax board tax on rental income going to out of state investors that use a property management company.

You can then make an offer just like any other property.The bank will make it difficult to wholesale:1) They will not allow any assignment2) They may put deed restrictions in place that limit your ability to resell it quickly.3) You will likely need to double close and you may need to use a transactional lender to fund your purchase.

You must do a double close, and most have imposed deed restrictions so you can't resell for at least 3 months after you close so you can't even do that.They agree on one price, and change their minds right before close and raise it.Used to be 1 in 5 worked out...now it's probably lower than that.Other than that, short sales are great.

Smaller banks are not restricted as much as larger banks.

So based on the other gentleman's comments, you may want to contact a local attorney in your area to see if anything precludes you from using the board of realtors contract, Sounds like some may have restrictions on its usage. 

Guidelines include but are not limited to pre-salerequirements, occupancy requirements and LTV/TLTV restrictions.

@Kevin MeansNeed to make sure there are no resale restrictions from the mortgagee (bank) on the short sale approval letter.  

I won't say anything more, both to avoid breaking solicitation restrictions on here, and I don't have it even close to done. 

Perhaps you're trying to post in a forum that has restrictions for posting like the Bulk REO forum?

If it's a real deal, then you should talk to the lender and find out what restrictions you would have first.