When I got home I noticed one of them had not entered his social security number so I called them with the supplied phone numbers.

I know it can be a common thing when wholesaling, I was wondering if it also held true when taking part in these types of transactions.

I haven't done this personally, but a common strategy a lot of people use when first starting out is to take out a FHA loan to purchase a multi-family property.

I made the offer over the phone, then emailed escrow as I have done too many times to count.

After some time if the borrower doesn't fix the problem, the lender will take the property to auction, commonly called a sheriff's sale.

If you aren't trained how to do this then it can be very hard, talking over the phone with a seller isn't the best way to go.

I was looking specifically at nevada to form my LLC and get a DBA because they dont have other licenses, tax ID #s and whatnot that are needed I believe.I got a UPS box, 1800#, voicemail, business phone, domain and hosting.Tomorrow Ill order businesscards, signage, form the LLC+DBA, register a EIN, look for a VA, make social media profiles, buy seo packages off fivver and call the bank to see whats needed for a account for this new venture.Am I forgetting anything major?

If others in the area commonly have them, this is a significant ding.

There are other common pitfalls when it comes to hourly workers, where last years income was high however the average amount of hours worked over the last two years does not equal the amount of money they made last year.

Having been born in Russia, I have perspective that is not common on BiggerPockets.