On a side note, in Texas we can do anything and everything we wish to with a deposit or prepaid rent be it buy a boat or head to the casinos in Louisiana. 

That's not exactly what you're doing and what your doing is very legit.

Legit, scammers, knowledgable, incompetent?

However, I was wondering if you never have dealt with a private lender, how do you screen them so you know that they are legit.

I downloaded the Florida FARBAR AS-IS contract and see an administration fee going to a realty company for $195.Is this a legit fee and do I need to coordinate with the realty company listed?

There are several things that can and do go wrong and it starts with having a legit deal analysis calculator that can tell you in 1 minute or less if the numbers work.

Hey Brandon,They are legit. 

We always TRY to check at least two prior landlords, but it can be difficult to ascertain if they are legit LL's or just a friend.

But making a bunch of blind offers will give you a reputation and agents (if listed) will start ignoring your offers even when you have a legit offer. 

Both look legit.