Should I set up a business as a wholesaler if...?

[Kaitlyn Robinson]

I'm only planning to do wholesaling part-time to raise capital for other investment strategies that I would like to get into, but I'd seen some videos and articles, and I've gotten some advice from a few others that I should register an entity with my state and get an EIN number so I can file a tax return along with opening a business bank account for liability protection. I think it sounds great if I plan to do wholesaling full-time and long-term, but would it be a waste otherwise? 

As always, any advice is appreciated along with any constructive criticism. Thanks!

-KR