It just introduces more risk in the event a market were to collapse.The amount of risk that is safe to take, would be market dependent.

@Jacques Wurms hey send me more info on this 150k deal maybe we can syndicate the transaction. 

I'm not an expert in Dodd Frank or the Safe Act, and I'm trying to get up to speak on the possible issues as they relate to residential finance, we don't have these issues in commercial. 

And it is safe to say that many people that live in the town have more than a comfortable living, because most of the better neighborhood homes are owned outright on 1/2 acre or 1 acre lots.  

Jeremy Clarke Not an issue transaction wise, however, selling it to you might create a capital gains problem since she's been there 30 years.Selling it for less than it's worth to avoid cap gains can create a gift tax issue for the equity involved.You should speak with a CPA about doing it in a way that avoids any issues.

I am looking for an investor friendly Attorney who's well versed in dealing with wholesale transactions.

Or at least ask her if she feels safe? 

You can advertise you have a contract for sale.Get a sale and purchase agreement that can be legally assigned and sold for an 1 to 2% assignment feeIf you don't want the rehabber to know how much you paid for it, find transactional funding or get on title somehow with private lender funding or find a joint venture partner to provide funding or get on title with Hardmoney lender funding so that you can buy at first and then resell it.Illegal Wholesaling only means that you're not telling the truth to the seller, and you have no intention of ever buying it, hence the reasons for all of this loud noise about illegal wholesaling.Wholesaling is legal in every state as long as you follow good business practices.

These types of loans are extremely safe to lenders, as they are certain you will make your payments, since you are at risk of losing your home if you don't.

At that point you've structured the transaction so she avoids SE tax.