That done, understand that selling to another investor who will not be living in the property can be considered a commercial transaction, but check with state laws as a residential property may be in a category of consumer loans regardless of who buys it.  

No matter how good of a negotiator you are, there's someone out there a little better that you and it's always good to have an arms length transaction.

My suggestion would be to have the title company or an attorney place those funds in an escrow account or other security that is separate from the transaction.

I've never done a transaction like this and I would like some advice as to what is the best option.

Possible .... just like it is possible to win a $300,000,000 lottery.First, you would have to cross off the title of Licensed Insurance agent ... and probably drop the techie too.  

I am assuming I should avoid a real estate agent in the transaction?

(It will be a little bit less than that, but I was surprised with all of the fees that came up.)I decided to sign up with HomeSmart because I get 100% commission and pay a small monthly fee ($25) and a nominal fee every time I make a transaction ($300). 

To me, that seems like the best way right now to get started and crosses off the most checks on the to do list. 

If the concept of wholesaling is new to you I'm wondering how many wholesalers, sellers or actual transaction details you are personally privy to, and what could qualify such broad, sweeping generalizations? 

Then just this last week, lightening struck, and we got an offer and its going into escrow, not closed yet so cross your fingers!