Think hard about your criminal background criteria.

We are only allowed to screen non-tenant applicants for criminal and rental history, nothing financially related. 

loanguys.com are criminals. 

But just hating on wholesaling in a wholesaling forum is so unbelievably pointless. its not dead per se  but it is starting to be regulated as it should.. oregon just passed their version. where to wholesale you now need a license and over site by the RE commission.. along with criminal back ground and a BOND.. and as we know not everyone can pass either of those with the bond being the tough one if you have bad credit your not getting a bond.

I have talked through all this with another student and he feels like what they are doing could be considered criminal and is talking to a friend of his at the FBI.

Criminal background will weed out some bad actors as well.  

Billions were paid out in fines for criminal misbehavior and not a single dime went back to any of the victims. 

Also credit score 680 with no missed payments over the last 2 years and also check their criminal report just to make sure you know who these tenants are, as the eviction process in New York city is very long and expensive. 

To further answer your question: the truth of is subto legal is “it depends” - now is it criminal - most likely no - but could it be illegal yes.

You can't run a credit/criminal without the social.