you need to talk to someone that is familiar with the laws and customs of your particular area.

Some rehabbers might need a 10K minimum profit to do the deal, and others may want a 20% profit spread.As a wholesaler, you need to know your customer.

The customer ran from the bathroom right when we noosed it up.

I would never get into something until all of my ducks are in a row...meaning that I have already established a solid network of investors waiting for my deals (which I have), and having a custom Purchase Agreement with enough contingencies to cover me whether I cannot find an invester to assign my contract to (this is the worse case scenerio)...if it were completely impossible for me to assign my contract, my agreement allows for me to walk away from the deal without any risk to me (although this is not fair to the seller).

In my meeting with the REO agent he did ask me some questions that were designed to see if I was a serious, capable buyer and I believe I had the right answers.My main source for private financing won't be available for 4-5 weeks.

Having a license opens a few doors, closes a few others and is neutral otherwise.If you want to be a customer service agent for your own business where your clients buy and sell a home then a license could be a great idea.

After searching for a loan for quite some time I've finally managed to get in contact with a few private seller who's willing to give me a private loan with a minimum downpay.

I would say "customer's", but you clearly are not treating them as a customer.

There are strict guidelines regarding solicitation so just be sure to know the do's and don't before raising private money (lots of forum posts here in BP on that).

I am also in NOVA (Burke) and own my own Private Funding Business.