Looking for wholesale tips.

[John Spina jr]

Hey everyone! I'm very new to real estate investing, I do not have much capital, but I am eager to learn and get going in the right direction. Since I don't have much capital I figured the best way to initially build would be to get some wholesale deals under my belt. I do feel held back because I feel like I lack the knowledge, which is why I'm open to any and all tips/advice aside from these questions below...

Should I already have a legal entity established before I start marketing to sellers? PROS/CONS

What is a good way to establish a buyers list and a sellers list?

Should a direct marketing hand written letter say anything more then the bare minimum? How much or how little amount is good for a hand written letter?

What is a good amount of cash to have on hand before getting into a wholesale deal? Other than advertising costs, what else would I need cash for in a wholesale deal?

Do I ask my real estate attorney for default copies of contracts so I could have them readily available?