Is 'No Money Down' Wholesaling Still Being Done?

[Ibrahim Hughes]

I know of a deal going down where an investor-friend of mine has a property under contract, is creating the LLC as the buyer and will sell the LLC to the end buyer for a cash price that will result in him receiving $100k profit (gross). Will he run into trouble because he didn't put any of his own upfront money into the deal? I'm asking because I haven't seen these types of deals go down in a while and wonder if investors are shying away from the due to the legal climate.