How Much is Enough for a Strong Start?

[Jason Brooks]

Fellow entrepreneurs, seasoned investors, and marketing geniuses alike...
I would like to ask an all too familiar question. How much is enough to make a strong start? I realize that for anyone with the experience to answer the question intelligently I need to provide some contrast. That being said, I give you:

The Background

My chief aim is to develop a wholesaling operation, that will provide the foundation for a successful rehab business in the near future. Wholesaling properties will always be an active part of my business as I grow. I do realize that there is no clear way to determine the route to my goal for this business in detail, as the potential variances and differentials to my "plan" would make it impossible to predict. To start, I intend to wholesale for immediate income, partner on deals when the opportunity arises, and eventually be in a position to invest individually.

Unfortunately, I have very little disposable income and a bankruptcy just under a year ago. I support a family of five on my income, and I am building this business every spare second I have.

I have done intensive research and study in my chosen field, and I will continue to learn every day. I have also done a great deal of market research, and have been given specific criteria for some of the buyers in my network. I have met people here on BP that I have a great deal of respect for, and who's opinions I value immensely, like @Mike LaCava @Danny Johnson @Jerry Puckett and @Sharon Vornholt and I consider myself very fortunate to have found such a remarkable community here. I couldn't begin to explain what this site has done for my focus, vision, and my ability to get active in my business.

I have connected with a total of 6 local investors who are active rehab and buy n' hold investors. One of these investors is a realtor who has agreed to assist with comps and buyers as well.

I have begun to build a network of local contractors, general contractors, property management companies, and the like. Most of the professionals in this network I know personally or they come recommended by another or multiple other professionals in the network. They have all been briefed on my goal, and seem to be on board (for now, but we will see what the future holds as I begin to work with them and vet them out if necessary).

I have some good friends who are very successful in business. A couple of these friends have stated that they would be interested in investing from a private lending standpoint, but do not have the time to "mentor" a new investor, or the experience to invest in RE themselves. They all see my determination and passion for what I consider my dream, being a successful, active investor/business owner. One of these friends is considering giving me a small loan to start my wholesaling business.

OK, so I believe this is enough background to illicit an intelligent response.

The Questions

1. How much would be enough to get a good start. My initial thought was $5,000 but is this enough? Please take into consideration creation of an LLC ($500).
2. What is the best way to disperse the funds. Here is what I think I know:

I know I need to become a Pro member here at BP
I know I need to purchase lists or MLS access
I know there are individuals like @Jerry Puckett who can run a good campaign for me

Here is what I'm unsure of:

Should I set up a website?
Am I missing something?
LLC? How much should I spend and where? One market or multiple?