Hi @Calvin Kwan,Get your lender to call the listing agent and inform them in no uncertain terms that, regardless of who the buyer is, the loan isn't getting approved, he isn't selling this house, and he isn't getting paid, until fully executed legitimate leases materialize. 

That's where I would start- making sure I could execute before spending the money on an LLC or INC.

The amount of RE information can be overwhelming, and you definitely have the right idea - choose one path, concentrate on researching just that, execute, learn, and expand from there. 

Keep in touch when you find some wholesale deals you're looking to execute and let me know if there is anything I can do to help with your wholesaling, being a realtor an looking for deals for myself and others, I may come across something that may be of interest to you?

Then, as individuals, you will execute whatever guarantees are required by the lender.You need an LLC to protect all of the investors from issues that happen with the deal.  

If you have a fully executed offer, the listing agent/negotiator has to get it to the short sale lender for review.

We will be meeting at a recently acquired rental property in Pacific Beach and reviewing all that went in to analyzing the deal, planning the rehab, and executing the strategy. 

If you are in a rent to own and executed your contract in the past 4 years, your seller most likely is in violation of Dodd Frank, see an attorney, you might get a new house and/or all your money back!

I would appreciate your advice on whether there are any gotchas that would prevent me from executing my plan.Purchase price: $250,000 (paying all cash)Closing costs: $5,000Repairs: $25,000Total Cost: $280,000ARV (estimated): $380,000 I am borrowing $250,000 from friends so that I can buy the property for All Cash.

I am now looking at how to execute these on my own.