DISCLAIMER: I am not an attorney and this is not legal advice!

., I definitely agree with the accounting piece, what are you thought on the legalities side of this.

I will also PM you, Allen, regarding the legal recourse question.

A legally suited detached with garage is around the $375k - 450k point (in decent shape). 3 bedroom, 1.5 bath main floor around 1100 sqft can rent for $2000-$2200 a month (utilities included). 3 bedroom, 1 bath basement can rent for around $1600-$1800.

@Kamryn DeVaultTo invest in a duplex, consider factors like neighborhood quality, economic stability, safety, property condition, cash flow potential, financing options, tenant screening, lease agreements, future potential, legal and zoning considerations, maintenance and management, networking, and starting small and scaling.

The primary reason why people form a company is to limit their legal liability from lawsuits.

In CHS, the county assessor has a two page form that you complete and file with the assessor's office, similar to applying for the legal residence exemption. 

I have not seen it but recommend that you seek legal advice. 

I would visit https://syndicationattorneys.com/ for all the info you'll need on legal.

That being said, I don't believe wholesaling is legal in every state so understanding laws surrounding that before you jump in will be important.There are definitely a lot of bad wholesalers out there!