He explains this very thoroughly - and points out that unlicensed real estate brokering is a Class D felony in that state. https://www.davisfirmpllc.com/... 

Unlicensed wholesaling is illegal in many (I think most) states, so liability can present itself in several ways.1.

Yes, you are running an unlicensed uninsured business.

The law only sees you as either an unlicensed lay person....or as a licensee, as an expert in the field.

If you are going to use day laborers and unlicensed contractors to do some or all of the work on your properties you may want to take into account that your insurance coverage will not pay out when an accident happens during the course of breaking a law. 

Once you're on title (briefly), you can pretty much do what you want, within the law.Be careful how you do that, however, to avoid issues with being considered as acting as an unlicensed sales agent. 

How the heck do unlicensed rentals even make it onto the MLS?

In speaking with the person who purchased my home I found out that investors tend to like working with unlicensed wholesalers because they know they are going to get the best price especially when it comes to certain kinds of properties.

If these "wholesalers" (in reality unlicensed brokers) were held to standards how many would survive?

I can give you the name of an unlicensed Contractor who does a good job if you wish.