The value exchange is his reputation for my 'everything else': finding the investors, finding the deal, gaining commitments onto the value-add prior to any money being changed hands.

To commit to such a low rate for 30 years -- unless you have unlimited cash -- just seems like a poor long-term investment.

In my market, I can't get investors to commit without offering double digit returns.

My mentor said that to make it worth his time to train me, he would like me to commit to work with him for 12 months on a 30% commission schedule, and sign a non-compete agreement, basically agreeing to run all deals through his business.

You take the pic and for $2 dollars it will send a letter with your commit and land glide.

I'm curious less from a "making you whole" perspective and more from the he committed fraud perspective and would like to see him punished.

I have been to 2 different guru seminars; I wish i would have saved those resources for my investing needs after finding BP, but at least i'm committed to claiming my future in this industry.

Do any of you professional wholesalers require proof of funds or commitment from a Hard money / private money lender before assigning the contract?

They can give you the best information as to any outstanding probate issues and see where they are.You should be working with a title company that can give you a preliminary search, mine were free as I closed enough with them they did free searches and commitments for me.

Find someone you trust to research and visit the area thoroughly before you commit.