Brady Hanna I wrote a blog article on this very topic: http://www.biggerpockets.com/renewsblog/2013/05/24/you-just-passed-your-real-estate-licensee-test-now-what/It doesn't go into Kansas City specifically, but the overall theme applies to any market.One question though.

"It is unlawful for any licensee to offer,promise, allow, give or pay, directly orindirectly, any part or share of his or hercommission, compensation or finder’sfee to any person who is not a real estatelicensee, in consideration for services.76No broker-salesperson or salespersonmay accept compensation from, or paycompensation to, any person other than abroker (or owner-developer) with whomhe or she is licensed at the time of thetransaction.77"Look at page 18 here:http://www.state.nv.us/publications/law-reference/Ch%20III.pdf

It's illegal for him to split commissions with an non-licensee.

Also a concern is taking properties off the market while someone beats the bushes for a real buyer and then fails, you can address both those issues.As a licensee, I'd be concerned with partnerships with unlicensed parties doing assignments of contracts as a business venture.

Wholesaling by a licensee is also seen as a "net listing" regardless of the paperwork.

Most likely, and probably already required, would be registering the LLC as a licensee under management of your personal license.

As a licensee, you really can't have your cake and eat it too...Either A) you are offering your services as seller's listing agent;or B) you represent someone else, possibly an entity of which you are a part, and which is fully disclosed, as a buyer's agent; or C) you are acting as an individual negotiating a deal with an unrepresented seller, fully disclosing the fact you are a licensee.

Preface; - I do have my broker's licensee but I was a wholesaler first so I see both sides- but let me say -and ARV of $180K- purchase of $55K, and rehab of at least $50K okay but then this was a cash deal? 

Hope I'm not out of line commenting as a non-licensee, Mike.As a seller I would think it pretty stand-up to say, as my listing agent, you won't charge commission on seller concessions. 

US Dept. of Justice on Realtor Rebates        https://www.justice.gov/atr/rebates-make-buying-home-less-expensive         https://www.justice.gov/atr/competition-and-real-estate-state-31                                                                  FREC (Florida Real Estate Commission) Rule 61J2-10.028 paragraph (2)The sharing of brokerage compensation by a licensee with a party to the real estate transaction (i.e. the buyer or seller) with full disclosure to all interested parties is not considered a violation.Facts: Seller Concessions to pay for Buyer's closing costs and prepaids are NOT the same as REALTOR REBATE.