Effectively all you're doing is transferring money from one bank account to another.Now, what an LLC does is give you liability protection.

I'm looking for a simple yet solid contract that protects the wholesaler and is easy to understand for the seller.

It is easier to get information from your public servants when you are in town.

Protect your investment and run the check.

This mostly affects brokers, as they have to disclose the origination amount (direct lenders don't have to), which will be included in the 3% calculation, along with title fees and everything else.It does help protect borrowers from high charges, but not as much as you'd think.

I'll be protected via 1st position and given mortgage/DOT.

Hey BPers, I'm piggy-backing off of a thread I started in the Real Estate Marketing Forum: http://www.biggerpockets.com/forums/87/topics/113063-pre-foreclosure-foreclosure-leads-in-a-judicial-foreclosure-stateA quick summary for those not interested in reading that thread, foreclosure processes in judicial states are handled within the court system and as a result there are no public notices required like in non-judicial foreclosure states.

Read up on "Protecting Tenants at Foreclosure Act", a federal law that has been revised but you should be able to understand your rights by reading that.

The "free" option but the one that will take the most time is by accessing the public records either at the court house or online through their database portal.Another option is to pay around a $100 for a title search.

What is not so simple is knowing how to run it so that is actually protects you.