I just typed up a few paragraphs and then all was lost when attempting to insert a quote. 

Many investors will attempt to find distressed homeowners before they enter what is known as the "pre-foreclosure" state which is the period between when a bank issues a notice of default and when the house is actually sold at auction because once they're on that "pre-forecosure" list the competition increases.

If the renter closes their accounts in an attempt to hide, the billing authority pursues them via collections.In both cases, I believe they have to be renewed each year.

I admire your attempted hustle, but you are falling into the trap of the horrendous advice that is out there that tells you that wholesaling with no money down and no experience and no contacts and no real estate education is a viable way to get into REI.

Does that seem out of character?

We are VERY new to the real estate community and are looking to purchase a multiunit to buy and hold.... attempt a BRRR.... just nervous to dive into a purchase that wont yield as a profitable investment.

You see a lot of caselaw on this topic where the buyers in the above situations make a desperate attempt to get the sale overturned.

I have definitely seen some wholesalers modifying how they market to attempt to stay as compliant as they can, at least in Columbus.

My business partner @Kevin Smith and I have opted for taking character references from existing employers, which also allows you to verify their income and likelihood to keep said income. 

This might also scare away some tenants’ landlords from suing you if public records show that there is no equity...So when your family member gets a judgment against them and the creditor attempts to levy on the mortgage payment you'll have to explain there really isn't a mortgage and you really don't owe your family member any money?