I was only considering it because I have been in regular contact with the tenants lawyer, who is actually from a good firm (I assume working pro-bono or state funded).

At closing, your lender wires funds to title co; these funds are held in escrow until (1) warranty deed transferring title is executed by seller and (2) any down payment funds are produced by yourself and note/deed of trust are executed by you.

.$1 is probably not going to fly much but I have heard many people like Justin that have said they can get people to regularly agree to $10.$500-1,000 is pretty standard with a bank, and on a retail MLS situation the agent will (rightfully so) try to get that same kind of EMD for their client.If a seller balks at a $10 EMD then you have to decide if the deal is good enough, as in safe enough, that you want to put "real" money on the table.

I don't regularly wholesale but my understanding is that you can use the standard forms and just put the assignable language in it with the buyer name and info.For a double close you should not even need to alter anything.That being said I think that many people will have their own contracts with them written the way they want to have a little more CYA stuff in their.

I have joined a REIA (Lifestyles) not at a the super charge level, just basic.I have read pretty regularly on these boards.

Similarly are there other areas which produce higher cash flows (without compromising in quality of property or tenants)?

Yes I regularly foreclose on tax lien properties and sell for both large and small amounts.

5) Most importantly, I can't figure out why you are offering novice investors a turn-key service that produces such great returns instead of simply borrowing the money yourself from a local lender at a ~5% construction loan.  

But I'm sure that you dealt with more than just this one lead in order to produce this one payday.

The vacancy could be high for many reasons, such as: 1) High rent/deposit or screening criteria 2) Poorly advertised to potential business owners 3) No popular stores or business types that might attract regular customers e.g. chinese eatery, nail spa, pizza place, pawn shop, liquor store