I'd heavily suggest talking to this person before signing anything, again and in person, to get a sense of what their motivations are.

I have many buyers and a lot of working capital but I do not know how to find motivated sellers myself.

I could be missing a piece of this puzzle, maybe this is where to find properties at a cheaper price or find someone motivated to sell?

Aaron Mazzrillo dude, your forgetting to take the free motivated seller mailing list coupons out of the magazines!!!

It's a sizeable amount so there is some motivation to do it. 

However, in doing my due diligence I have went to numerous banks and credit unions and they will not give a loan out on this type of deal.

All of us are very motivated and have a great working relationship, splitting the profits evenly is something that everybody has already agreed upon (besides paying the investor back for down payment...etc..etc.)Hope everyone has a great day!

The BP podcasts are so motivating and informative, awesome to hear and read about the many approaches to REI.  

But from what I see written by the experts here on the forum only fools try to find deals on those apps.So my question is:If I wanted to stay in my expensive local market where I can't buy houses cash for retail.If I do direct marketing to find a house in my area and let's say I get a motivated seller.

I'm a very motivated newbie.