The only value in this type of list is that you can now drive to each location, get teh contact info of the person managing the property (via the paperwork pasted in the window) and contact the broker.This gives you potential leads to REO list brokers who you can form a new relationship with.

If you make various assumptions in a pro forma the project's sponsor has to make enough at the end of the day to risk their time, capital, reputation, etc. 

Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.

Sponsors get paid whether they increase value or not, and it's easy to create pro-formas that make a deal look good on paper.One of the problems with this space is it's hard to diversify properly, deal minimums being what they are.

As an wholesaler, when is it smart to decide to form a LLC?

These will be partial to investing in real estate so keep that in mind but these will help you form a strategy.

If its a buy and hold situation, and you're going to manage it yourself, your original LLC could still own the property, and you could form a separate LLC in that state that's your property management company to do business. 

In evaluating possible deals and given there are so many different jurisdictions and approaches to property tax assessments.... Is there an effective way to get a solid idea of how taxes will re-assess in a particular...

Here I've seen 4 or 5 folks come together, form a corporation, and purchase a piece of real estate (or several) - they are all owners, and likely officers, of the company and one of them will be hired/tasked with the managing and leasing.I've not used more than two partners/co-owners in the past, but am looking a possible portfolio acquisition in which we are five interested taking on the deal. 

We all see pro formas with numbers somebody pulled out their arse and those arse-numbers are used to support their inflated asking price.