Great Info Chris...except discarding the reo's , There has to be a way of working those leads-short sales?

Next and most importantly is that the parents sign the lease with one lead tenant.

I do know the area pretty well from running sales leads in my day job there.

every seminar that you buy will only lead you to another training and another training and another....go to meetup.com and find meetups that you can go to for little to no money and network and learn as much as possible.

It seems to me there is one extra person in the this equation....I would think if I'm paying for a lead that leads me to a deal I close, that lead should be with the actual seller and not another wholesaler if I'm doing all my own negotiations???

Also, you can do some advertising for short sale leads, and let the leads contact the realtor.

I prefer to admit investors in a subordinate role as a member to an LLC, keeping them passive without voting rights or control.

Obviously, if they find out that you made $5,000 on it - they might be a little miffed, which is why I would always disclose to the buyer what your role is upfront and have them sign something stating they are aware that your goal is to be the middleman and make a profit by helping connect them with a seller.If you find a buyer for your purchase and sale agreement, then you wouldn't have step 4 because you never owned it.

Your family might like a passive income, so they could have an LLC and that LLC could be a member of the property owing LLC, where they lend the money and take no active management role, see your tax guy, there are a few here who may chime in.

I remove all spigots leading outside for this reason.