If I'm understanding the process correctly, the mortgage stays in his name so in theory, I will never see a statement from the bank unless requested.What are the chances the bank catches on to the fact the deed transfer has taken place?

For example, 700+ credit score, no bankruptcies in last 7 years, verifiable income such as recent pay stubs, business bank statements are not accepted...

Can you purchase if you can't assign? 

Pennsylvania Governor Wolf announced today, May 7, 2020 (National Day of Prayer btw) that there will be NO EVICTIONS OR FORECLOSURES IN PENNSYLVANIA UNTIL JULY 15, 2020.The Governor made the following statement to justify his decision:“We cannot be evicting people and defeat this virus,” Wolf said.

Maybe don't say "I'm new to investing" instead say "Hey I'm new to investing in this particular market and I'm ready to build a presence here" That statement conveys a lot and it's not exactly a lie even if you have no other properties elsewhere.  

Cancelled checks or ORIGINAL bank statement for the last 6 months at the minimum 12 months are preferred showing the transfer of funds.

A lot of clients say it's worth it, but that's a very opinionated statement only you could decide on. 

I can't argue your statement about the drought.

I was told to assign contracts but I don’t see how that’s for beginners if we never made a sale before.

What should be my first steps in starting in the wholesale world and also does anyone know of any good closing companies in nyc that are wholesale, investor and familiar with assignment contracts ?