Of course, these lenders have a different risk/reward structure than the owner financing seller who has a “built in” $50k gain.The part I don’t like about doing a wrap is the personal liability the seller maintains for the underlying loan while not having control of the assets securing the loan.  

To save on fees for both parties, we are planning to handle the transaction ourselves.

So someone toes up a property via a purchase contract and then sells that contract to a third party.  

.: The real funny part is that there are other Landlords that will accept it.

I agree with a lot of the advice above, but it is important to develop a professional relationship that lasts so the mutual benefits can continue.

I imagine if I cut back a few hours at work I could easily qualify for real estate professional status. 

Readers are advised to seek professional advice.

You've been around this forum long enough to know the difference between professional advice and random opinions.

These are professionals with additional training and a stricter code of ethics.

Perhaps the deals didn't profit, but for the most part the parties had good intentions.