My point is that there are so many potentially dangerous unforeseen scenarios that could effect the two of you, that having a clear legal document should take priority in your evaluation of this "partnership". 

They have an option to select multi-family properties and you can filter the results to your liking. 

Have you selected your Team members?  

Anyone have advice on how they narrowed down their search when selecting a out of state locations to invest in?

When a rental property is foreclosed on, do the leases get wiped out or do they remain in effect? 

They have effectively told you, by hiring the listing agent, that they do not want to be directly involved in negotiations and it won't go over well if you try to contact the seller.

I think its a more effective use of funds.

Even taking affidavit's to this effect or having the LMO take a notarized statement from the borrower that they are happy with all terms and price.  

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

I don't see it on anyone's profile  In the forums, if you hover over someones profile a pop up appears and you select "connect"  If you are on their profile, on the top right is a connect button