Should I worry about business formation right now?

[Brad Martindale]

I'll be focusing on wholesaling as I start out. Over time I'll take on rental properties and do some rehabbing. My wife plans to partner with me over time and at some point I might look at taking on additional partners. Do I need to spend cycles focusing on formally structuring my business at this point? I'll want to separate my personal and business expenses from the very beginning and I will be opening a business checking account and business credit card to help me do that. Can I even do those things without structuring a formal business? Tax advantages are a concern for me as well. I want to be structured in the best way to take the most advantage over the long term even though I'll just be doing wholesaling by myself here in the beginning (no wife involvement or additional partners at this point). LLC? Sole proprietor? "S" corp? I'm not quite sure what some of these things even are. Other options? If I go one way now can I course correct later if need be?