I am a newbie and have been receiving a handful of leads for people who want to sell their home quickly.
I don't have the cash to do so, even though they have a lot of equity to be had. Wholesaling might be the way ...

There are several members who are high quality mortgage brokers, pick their brains and listen to their advice. 8)

For example, My partner, myself, and our team of people focus truly on finding high quality deals.

What are some things to screen my potential tenants for so that I will be protected and have dependable tenants?

If they make every payment on time for a year or two, your investor friend can hold the note for a nice investment over time.I do think that giving them 80% of the payments towards equity is too much, he should consider much less.Tenants should be easy to find via newspaper ads with a prerecorded message to screen out interested people.

If you are into buy and hold, right now is a great time to pick up more properties at discounts and the tenant pool is growing and becoming better quality.

There are good people out there that provide good quality leads out there but if you have heard bad things then I say walk away!

No---- SUB2 are not illegal... but I have to question the ethical qualities of the transaction.

This IS the 21st century, and a quality tenant is likely going to expect these items in a middle class type rental.

The only issue I have had was I left it in the car and the screen would not backlite until it cooled down, didn't affect its performance on the whole just hard to read screen.