This way, when the option is taken, it already stipulates sales terms to be followed.This can be done by using a local sale contract and deleting those matters that provide default provisions and requirements for the buyer to perform, you can counter these aspects using an addendum stating that it is an option and that the contract shall govern after the option is taken.

And a hard money lender will, if you default on the loan.

For total noobs like me wholesaling appears to offer the lowest barrier to entry an biggest opportunity for education without having to quit your full time job.This is what the gurus sell as well so it's no surprise that there will be a flood of people like myself trying to navigate and make deals, as clunky as they may be at first.But I have to assume that like all things this will level out eventually and only those of us who stick with it will remain and by default be more educated and seasoned than the next batch?

The contract will state the rights and obligations of both buyer and seller, so read and understand your contract so you aren't placed in a position to inadvertently default.

So that would be kind of like the default voice mail recording.But I also have a Contact Group specifically for my patients who use the exact same number to call me, but they will hear a different voice mail recording that is specific to my patient list.

If you buy notes with a low LTV and they default you now have a property that you can flip or rent.  

Generally, the liability of a guarantor is triggered only on the default of the lessee, where as co-signers are equally liable for all lease obligations.

It may be a bit nicer for you because you will be local, but watch your back all the same if you are going it alone...Below is my default letter that I send out to new people..

Plus, thinking through Demand, we're beginning to see a lot of retailers (like the Colorado based Sports Authority) default - PacSun, American Apparel, Aeropostale... what this says about the larger economy, I don't know. 

@Dan FallaIf you use RentCheck or TVS to pull the credit history on your tenant applicants, then your agreement with them is to report all on-time rent payments (the default) and late payments / adverse events.