I've been scrapping and mining the CFPB guidelines and practices for regulators.

Way back in the 1970s and 1980s and even into the 1990s, this was a common practice throughout the investing community.

I think there's a lot of misunderstandings about the best practices with wholesaling, and I agree a lot of wholesalers throw out deals that suck.

Before you cam be a member the bureau will basically vet you as to knowing what you're doing, fair credit reporting practices and the nature of your business.Unless your rents are collected by a member property manager as Steve mentioned your only way to ding credit is by the eviction process which is picked up through legal notices as Bill and Duncan mentioned. :).

We use to have an accountant who practiced out of one of our properties.

@Wayne Brooks im sorry i meant simultaneous closing meaning actually using the buyers money to fund the whole process and leave with my profit still

Also dont let your sense of "doing the right thing" overpower your sense of being practical.

The way Joey does something may be illegal, unethical, or just bad business practice and Joey may have been doing something for years, just being lucky.

Simultaneous posting-agreed with that note guy.

I've never actually done a double closing so my example is more from a mechanical standpoint rather than a practical one.