The questions you ask indicate very low level of working knowledge in this space.

However, I’ve finally decided it was time to put all my knowledge to action and start wholesaling to help fund my rentals.

However, I’ve finally decided it was time to put all my knowledge to action and start wholesaling to help fund my rentals.

However, I’ve finally decided it was time to put all my knowledge to action and start wholesaling to help fund my rentals.I have a motivated seller, who has verbally agreed to sell me her house at 55k.

I recommend speaking with your knowledgeable lender as they would be able to explain much better and tell you exactly what you need to do. 

There’s nothing arbitrary about them.....they’ve been in place for years, are common knowledge in the industry and are pretty straight forward.

Just completed my profile and will be reading as much info on the forums as I can.I am looking to gain knowledge and discover the formula for making money and providing safe and affordable housing.I have very thick skin and will take advice well. 

You can sit down with them and show them your business plan: The contracts that you will be using, The mail pieces that you will be sending, using double closing or assigning your right to the contract, ect..

I wanted to stay local initially so I can both learn, manage myself, as well as having a great knowledge of the area.

If something went wrong, I wouldn't have the experience or local knowledge to address the issues.