You are that "representative" of the seller.You'll need to read up on the licensing vs wholesaling issue.Wholesalers are relegated to cash transactions and then only if you don;t do many things depending on your state's real estate laws.  

t happens.

for 12 months it would be double that 34,589... per annum.and of course if you put the whole 500k in your double that as well  for a grand total of 69,178.. and you do not deal with the 3 T's and take the risk of running rentals.But again you must align yourself with GREAT long term established HML in your market and be comfortable with your collateral...

@Larry T.

$2000 for a general warranty deed vs a Quit Claim Deed is a bargain.Get under contract with the agreed upon price contingent on clear title.Doing a Quiet Title can easily cost double this price.If you were to buy it with a Quit Claim Deed then I would,'t pay more than 50% of the FMV because you are buying the property with a cloud on the Title.

@Linval T.

That, for me, is the determining factor.On my first eviction, I would probably hire an attorney, if for no other reason than to obtain a copy of all legal notices he provides the tenant (and use those later as my own template) and I would attend the court proceedings so I would know what to expect when it's my time to present my argument to the judge.Dotting the "I" and crossing the "T" is everything.And by all means, document EVERYTHING!

It wasn;t fast, it wasn;t easy, and there have been a lot of challenges along the way.  

A few of the bigger NC trustee service firms we've 'bought' (via power of sale in D-T) from are Rogers Townsend & Thomas, Hutchens Law Firm, Shapiro & Ingle, and Brock & Scott.

What is good about the low money down conventional route is you can lock in a good rate and not have to stress about a refi a few years down the road because the equity will remove the insurance.