But neither the letter nor their websites indicates the name of the owner/principal, company manger, point of contact or anyone. 

@Guy Gimenez Whether I have on my Broker hat or I am the Principal in the deal, I would never accept a copy of a buyer's inspection report. 

All the transactions are principal to principal.However, in CA, you still need to disclose to the other party (in this case) that you have a real estate license.

I just wrote my first check on a seller carry that was negotiated at $60K, nothing down, no interest, no payments first 5 years, then $500/month principal only payments until paid.

I just did an amortization schedule on 15 years at 3.75%, and the principal was 58% of total payments for year one.

There is need for care by wholesalers.YOU are the principal to the transaction,hence YOU are buying that property....nevertheless contract law allows you to assign your rights to anybody else....which is what you'll do.My point is :DO NOT say you will "SELL FOR"

Taken from http://www.irs.gov/uac/Form-1099-MISC,-Miscellaneo...Form 1099-MISC, Miscellaneous IncomeFile this form for each person to whom you have paid during the year: at least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest;at least $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments, crop insurance proceeds, cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish, or, generally, the cash paid from a notional principal contract to an individual, partnership, or estate;any fishing boat proceeds, gross proceeds of $600, or more paid to an attorney during the year, orwithheld any federal income tax under the backup withholding rules regardless of the amount of the payment.Also, use this form to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment.

One of the principal reasons for doing that, is now you don't have your personal home loan counting against your first four Fannie or Freddie loans.  

Each payment reduced the principle amount owed by the full amount of the payment, as there was no interest being paid.At the end of the 10.5 years, the principal he owed would be $0, and the loan is paid off.Your example is exactly the opposite. 

Tenants can pay down principal, and3.