Or under these conditions can/will the house be foreclosed eventually?

I spoke today with a compliance investigator in Colorado Attorney General's office, who informed me that if I purchase a loan in default and eventually have to move to foreclose, I will not be allowed to foreclose without my company first obtaining a collection agency's license.

@Bryan L. and @James Wise -- I've considered getting my license and will eventually, but is too expensive for me to do at the moment.

BUT, I think if every single landlord on this site and other sites like it used "one" (index finger raised) site for "bad tenants" and others joined when needed, a database could eventually build up over time. 

the only people spouting off that wholesaling takes no money are the same people hoping you'll spend a few thousand with them to learn how to do it.Sure, you could go ride a bike around neighbors and eventually you might find a junker house you can get under contract, but while you're out wasting your time doing that, wholesaler throwing a few thousand a month into their marketing budget are banking some serious fees every month.Either route you choose of your two options posted above both sound feasible.

@Doug Merriott I sent you the listing details via email.My primary realtor lives in North Tampa, almost Pasco....but he is a longtime friend and will eventually tire of the drive to St Pete.

Etc.All of those people might be receptive, eventually, to hearing a pitch from you to invest in your real estate projects.

I feel this is a good general discussion but here are few more notes that are specific to my situation and the type of partners I can eventually network with:We are looking primarily for debt investors usually at 9% interest only.Minimum amount for a deal is usually $35,000 up to $80,000.

I'd like to wholesale here temporarily for extra income and eventually take on bigger investments myself.

By keeping good PNLs and before/after photos you can take this experience to eventually find cheaper private lenders, or creating better relationships with the lender you started doing business with.By flipping and mixing in rentals in good areas through more conventional lending (In better areas that aren't bogged down by foreclosures and short sales), I think you'd have a great starting point.