Both the owner and I are unfamiliar with the process of being involved with an owner financed deal - it is our first time not dealing with a bank or mortgage broker.A couple initial questions for the BP community:1)  Best suited to get a real estate attorney or a closing company to handle the deal?  

How can you possibly do it that cost effectively? 

You don't know how to wholesale effectively, and you want to virtually wholesale? 

One of the most effective ways to get deals is by following up with a seller two or three months down the road.

@Vladimir K. flipping inside or outside of an LLC will have no effect on the tax liability unless that LLC is being taxed as an S-Corp.

*****Infinite Banking/Circle of Wealth/Bank On Yourself/etc.Some people want to know about the effect of taking loans against whole life insurance and repaying them with interest, thus creating your own personal financing system, which goes by a variety of different marketing names. 

Also, would anyone have input on effective ways to find properties without direct mail?

Some people are effective hunters using sicial media but the best hunters find their targets using shoe leather.

Mailing is the least personable, and the least effective.  

We have our eyes on a new home for me that has a guest house that would suit my grandmother perfectly, and she likes the idea.