The Numbers:Asking price: 49k However he basically told me to throw any offer out.Current rent: 1003 total monthly rent (both son and agent feel this is about 300 below market rate)Flood Ins: 1400 per year.

It seems that some brokerages push the team concept more than others.

First, he doesn't even know how to spell principal (so probably doesn't understand the concept). 

The early meeting is usually some more of the basics.

I'v talked to a few off MLS sellers gathering some basic information for a buyer.

Synonymous to broker or middleman, this concept is prevalent throughout many facets of business.

Thanks in advanceYou basically want the bank to take all the risk?

I still work under that concept, do this and you are safely investing.

I know there are differing opinions on this but I would like some of the pros and cons of both, and maybe something other then the basic one strategy is more risky then the other.  

In the time it took me to drink my coffee, he had learned the basics of wholesaling and how to use 1031 to his advantage.