I have the forms to fill out, so it becomes under my ownership but my debate is between doing it under my personal social or my EIN for my LLC and using it as an asset to the business.

@David McAlexander    to expand on my comment above, never go hunting for money on facebook, or other social sites

I’m thinking of engaging more in direct mail and cold calling efforts to hopefully obtain some deals that are off the market, if I do happen to find a motivated seller, how does the negotiation of the purchase price and closing typically work?

Several states are now requiring a real estate license to engage in wholesaling which is the assignment of a contract.  

I think they are judt on social security/ disability.     

You can also buy lists from companies like list source and there are some REI software companies that have a cash buyer search feature.Best way to find motivated sellers is to purchase lists and compile lists from city and county for 60-90-120 days late on mortgage, pre-foreclosure, delinquent taxes, water cutoff, code violation, probate, divorce, high equity, etc. and mail or cold call.Other methods are driving for dollars, door knocking, wholesalers, craigslist, Realtors, FSBO sites, expired listings, foreclosure sites, put out bandit signs, billboards, newspapers, other offline publications.You can use pay per click/adwords, facebook, Linkedin, Youtube, and other forms of online and social media.Bottom line is consistency.

Other methods are driving for dollars, door knocking, wholesalers, craigslist, Realtors, FSBO sites, expired listings, foreclosure sites, put out bandit signs if allowed in your country, billboard ads, newspapers, other offline publications  You can use pay per click/adwords, facebook, Linkedin, Youtube, and other forms of online and social media and tv ads if you have the funds.Bottom line is consistency.

I would think it rare that any dealer looking for ground would engage with a wholesaler they will hire a top notch commercial broker.  

The sellers I bought from had many reasons why they didn't care; the house was trashed they where older,  in pre forclosure they where to loose the house anyway,  many other reasons why a seller will sell for zero net to them and sign over the deed and let an investor start paying on the mortgage.This is not a ad for you to bring me deals, this a question to engage you in why you would or wouldn't help a seller to solve their low equity problem?

I would recommend you look up  Myrarebird and go to the meetings.. as an experience tradesmen not only will you find work if you need it.. but there are a few hundred members that are all engaged in Portland real estate..