Be certain to have your lawyer draw-up a formal contract as would be the case with any private lender.I would also ensure that you make a "principal" payment into a holding account (high interest, GIC, money market) each month so you have the necessary cash on hand to retire the balance of the balloon loan when you refinance to a conventional mortgage in 3-5 years ... unless the value of house appreciates substantially in that time period, you will not be able to place a mortgage for your entire purchase price.

LOLIm currently looking into some local REIA groups and started to make some calls today to try and find a lawyer that is familiar with wholesaling as well as a title company, but they all said there not familiar with assignments, double closing, ex...Can anyone point me in the direction of a lawyer and title company?

If the numbers work and all else is acceptable to you then do it.Check with your accountant and lawyer you use and they may also know of the property.

Does anyone have a landlord tenant lawyer in Oregon they would recommend?

Your finance person will put you together with a lawyer (each lender has attorneys they work with)Finding good deals is the key, everything else will fall into place.

Anyone have any lawyers in the Dallas area that specialize in something like this? 

Anyway, from what I've seen, it looks like finding a good lawyer and accountant that understand REI is an important part of this process.

When I arrived the clerk informed me that this has to be done by a lawyer or a notary.   

There are some private lender's out there that may be able to work something out but make certain you use a lawyer before engaging in anything like that.   

For a trouble tenant, I hire a good lawyer for eviction and a handyman that can jump on the turnover.