powers and duties, buyout and buy-sell

Knowledge is power.

There are several meetup groups you should check out.Other than that you can and should look for off market opportunities; read on BP about the techniques to locate distressed owners and how to deal with them, research your market THOROUGHLY to understand what's a good deal (or any market you think about getting in).

They can often close in days rather than weeks like the banks.As for your other questions, as you seem totally new to wholesaling, your best bet is to read read read through the forum, there is tons of advice and you will find many people have different techniques when it comes to wholesaling.First, yes Get a property under contract and then look for a buyer.You can either double close on the property, which is basically a 3 way closing where you buy and sell the property at the same time, or you assign the contract to the buyer and  then you don't need to go to closing.

What I am looking at doing as using single family houses as flips...I've seen the power of having multiple units under one roof.

There are some folks with very high incomes that use the negative cash flow property as a tax reduction technique, but only because they can afford to carry a negative cash flow property while they wait for appreciation to get them out of the hole they are digging.  

So, care, prudence and estate planning techniques must be used in devising a note for an elderly person. 

@Stephen Nicholson - excellent advice hereBe a disciplined investor by sticking to the numbers that make financial sense for your target level of profitability and always maintain walk away power in any deal.Sometimes these deals will comeback to you but chances are they won't as the seller has an unrealistic view of his asset's worth, is no hurry to sell and someone with less experience than you will come along and pay him over market price at some point.Rick

It sounds like you are well on your way to growing your empire by utilizing the power of leverage.

Unfortunately I haven't been able to actively practice real estate while keeping a full-time job, so this will be new to me.My questions:- Will a company be willing to hire someone with no experience in real estate, but 5 years in electrical designing and 3 years power plant engineering?