So the borrower may get an offer of $2.7 million with $400k down, assumption of $2milion note and carry a second for $300k.   

For example, 4515 sinclair built in 1938 was remodeled very nicely and sold for 1.540 mil with multiple offers which represented a 100k increase from the list price.

Monthly mortgage payments including insurance and tax would be around $475 while the rent would be around double that, leaving me with a monthly cash-flow return of about $500. 

The home had over 1.5 million in equity at the time but that was all they would offer.  

@Bryan BegunAs a former CA resident living in SLO for a long time now in the Reno area it has more to offer than I expected as first.

Brandon You have to get out of Suffolk County and start looking into other areas where you can still get a good deal and the rents offer a positive cash flow without having to put 30% to 35% down. 

Go offer a cpa $50 for a 15 min consultation if you like to do it yourself.

Within days, I received several calls and emails with offers to buy under PURCHASE CONTRACT AND ESCROW INSTRUCTIONS.

In that situation, would you just try to find someone trustworthy enough to give you a referral fee say, instead of a formal contract assignment and have them just write up the offer so you aren't tied to it?

In the offer you can request most of the documents to be delivered in 5-7 days.