All real estate is local so you need to attend local REIA meetings, any investor meetings you can find on MeetUp.com, local landlord association meetings.This is where you will learn who the players are in your area, how they find deals, how to estimate repairs, how to negotiate with sellers, which attorneys they use, which contractors, where they find deals.And finding buyers when you have a true deal is so easy.

The last thing that comes to mind is a hybrid debt instrument but that could get a little tricky.You aren't going to get any legal advice on here so if you are legitimately concerned you will want to talk to an attorney about your specific concerns and they will let you know if you can structure around it.

I tend to think you can't do a lot of this on your own and you need experts - a realtor, a GC, a lender, an attorney, etc. 

I would suggest though that you spend some money on a good real estate attorney and have him draw the documents up, meaning the note and the deed of trust. 

Or print some from the internet and have your attorney review them.

Hello,Does anyone have a recommendation for a closing attorney that also has some knowledge in drafting/reviewing rental agreements and documents in the Spartanburg region?  

If this is a one off flip it may be different but if you plan on creating a long term business doing that your reputation could take a big hit justified or not.With court there is the time you spend on filings,attorneys,preparing for a case, going to court,etc.

@Jerel EhlertI'm not an attorney, my knowledge is limited to having done this a whole bunch of times, and actually reading the documents I sign (unusual I know). 

Judgments from lawsuits.Most asset protection attorneys stop at, and only focus on, judgment protection, and most estate plans do nothing to prevent the other three.

You should sit with an attorney who does real estate law in the state you would want to wholesale in and explain the process you would use and ask for their opinion on how to be compliant with state and federal laws.