Wholesaling legal prep

[Justin Foster]

1) Am I at risk if I try to wholesale without an LLC?

I read a post from @Ned Carey in this thread that mentioned an LLC is less important if you have less assets to protect. What about as protection from a lawsuit? How often do wholesalers get sued?

2) Do I need to have an official business, or do I wholesale under my own name?

I'm wondering how my wholesale profits get taxed if they're going directly to me instead of a business. Additionally, how does it look to investors if they make the payment out to an individual instead of an official business?