It is better for them to get half the profits than no profits, and you gain invaluable experience as they take you through the process with them.DO NOT go half-cocked and mail without having an understanding of the legal requirements for your area for assignment contracts.

If you don't need in-class learning, I highly recommend REAL University online course.

It shows people you are serious about the investing, that you have a basic understanding of RE and some fundamentals that go along with it, and that you are legally able to be paid for your services. 

I have 3 books coming in as we speak I haven't received them yet just been doing a lot of online research on everything I want to know.

We put all occupants of legal age on the lease for the reason of additional parties to encumber if needed.

I'm a bit confused about the legality/difference between what is considered private funding and what is considered a syndication.  

BP is a good framework for general information but you need a team of specialists to help you grow and succeed and keep out of any legal or Tax trouble. 

But either way you will need legal advice...

They signed a document, outside of some very specific situations (military deployments, imprisonment, etc.) their legal obligation is absolute. 

As far I have done my research wholesaling is legal in NY and NJ but does the bank restricition mean you cannot wholesale if working for a bank?