But to answer your question on how to do DD on a wholesaler/ what to ask a wholesaler: You have to do your DD on the property itself.

@Julie J.My recommendation would be to wait until you can afford a home with traditional financing.

As long as the lender knows about the move from name to LLC and confirm it you are good to go should not be an issue.

In this specific case, as several pointed out, the risk has gone up and so the price should go down.BUT, there is so much more to consider.1) How long has the seller owner the property?

Market in a MinuteEast Tennessee home sales decreased 7.8% from the previous month, and decreased 1.0% from a year ago.The median sale price was $371,250 — up 9.19% from the previous year.Total housing inventory increased from the previous year – up 38.3% from a year ago.Half of the homes sold were under contract in 20 days or less, up from 11 days a year ago.40.55% of homes sold for the asking price or above, with 18.77% selling for more than the asking price. 8.04% sold for at least $10,000 over asking and 2.88% sold for at least $25,000 over asking price.The sale-to-list price ratio decreased from last month to 97.5% – down from 97.9% a year ago.New construction represented 12.36% of total home salesData Deep Dive: How's the market?

I'd love to connect.

You're going to have your signature as a guarantor on the note, so even with an LLC if you default you can be sued for recovery of any shortfall. 

We offered 30K under asking and got it under contract, after the inspection we were able to renegotiate another 10K off of the property due to repairs needed.

Is there enough profit there to make it make sense? 

Hi Jessica, welcome to the community!