Generally speaking, Gurus do not get much fan fair on BP. I do not know what he is teaching but you seem to be asking about how you can be some type of "protected broker". The only real way you will have an interest in a deal is have an interest in a deal as a principal. There is no magic there. That paperwork is simply a contract.
Additionally, "flipping" notes can be pretty dangerous if you have no idea what you are doing. As with most of these training gurus, they paint a rose colored picture with nothing but gains and profits. Far from true. These guys do not not teach you how to do any financial analysis or valuation on the asset. They teach you little to nothing about the regulations involved in the mortgage industry or debt collections.
This is not a very broker friendly industry as most of the brokers have no clue what they are doing and only serve to prevent real deals from happening. Additionally most tend to highly inflate their value and role in terms of monetary gain. They have never really purchased an asset, owned an asset or dispostioned an asset so how could they possibly know about any of it? (they can't and don't) Because of this they spend a bunch of time talk among themselves instead of anyone who actually is in the business.
Flipping notes/loans is a very misleading concept in this industry as it assumes that you will always have someone who will pay you more than what you paid for an asset. But if you do not have any experience with the costs and time it takes to work through the assets, how is it you plan to be able to put a price on them? How will you ensure you pay less than your buyer to you? It further assumes, not only do you know how to price these assets out but relies on the Seller not knowing what the asset is worth either. Completely backwards and opposite to reality. A knowledgeable seller will pick you off faster than a sniper in a watch tower on a clear sunny day. Aside from that, most Seller's are not going to hand you a return on a silver platter, the bid and ask is already separated in the market. Being the highest bidder really means just that, you just paid too much.
What will you do if you purchase defective collateral? What is defective collateral? How do you cure broken endorsements and assignments? What is the value of a NPN in California and New York? What is the value of a second lien versus a first lien? How will you evaluate your default risk? How will you determine the loans prepayment risk? What do you do if a borrower files for bankruptcy? What is a high cost loan? What is section 32 disclosures? What paperwork do you need for due diligence? What reps and warrants do you need from a seller? What reps and warrants will you need to offer a buyer?
I can likely keep that going for a good page or two before I even slow down to think of one question. You simply do not even know what you do not know right now and will not gain that from a Guru course.
Bottom line, you want to learn the business, go find a legitimate party in the industry that is willing to teach you. Plan on it taking a while to learn. Plan on it being a good share of work. Whole loan mortgages are more complicated than real property in their nature as real property is only one of several pieces of the industry. Gurus, are usually not in the industry they teach, they are in the Guru industry which sells CD's and books where they like to hear themselves talk.