When I asked the LL about it she said she has to talk to the owners and have them send it to me.

No he did not bring the Wholesaler to me. 

I'm obviously in the education phase right now and would love to set a goal to buy my first property in the next year, however, I'm going to be in school and won't have very good income in order to get a loan (I have the VA loan available to me).

Thank you John for the advice and reaching out to me I really appreciate it.

It sounds like it could be a great way to diversify a portfolio, but I'm still unsure how exactly how it works, and the articles I've read is flying over my head (maybe old age is finally getting to me haha).

I personally like the convenience of letting someone else deal with everything, well worth the money to me.

What I am wondering is that it *sounds* to me like an owner who is wanting to exchange up can either put their physical property or the funds from the relinquished property into a 'temporary partnership'.

It became apparent to me that the buyer who offered 152k was either an idiot or thought I was idiot.

I'm about 7 days away from closing on my first real estate deal and the thought occurred to me that instead of wasting time (and closing costs) dealing with a bank for the initial loan, I could simply use myself as the source of "private money" for the entire purchase (~40k) for a home that I intend to rehab.The rehab is expected to take 3-4 weeks and I already have a reputable contractor with a written estimate in hand and the cost will be a ~25k additional (worst case) on top of that.  

I am sure it happened before but in my career in Real estate that was in my mind when the over bid and escalator became known to me.