That was until I looked at the market of the school she's going to and the prices make it a losing proposition. 

When it comes to the seller, wholesaling is a "value subtract" proposition. 

Aren't these laws just throwbacks to a time when it was possible to be information gatekeepers...the main value proposition for most agents?

California has a rent control Proposition on the November ballot , Prop 10.https://ballotpedia.org/California_Proposition_10,_Local_Rent_Control_Initiative_(2018)I haven’t seen rent control being a positive for cities, the cities with the strongest rent control seem to have the highest market rents .

No harm in consulting with one or two more.I happen to agree that all the eggs in the basket, at our age, is just as scary a proposition as another market correction/collapse as we near retirement.

Like most things in the US, it's an all-or-nothing proposition.

What's funny about this MF business is you can find an operator with 3 GP only and other operator with million-dollar operator/hundred employees and both is producing relatively the same value proposition.

Analyze 10+ flips and investors over five years vs analyze 1 five-year syndication opportunity...the risk/return proposition is clear.PML is an active business that requires processes and controls and, therefore, scale...or a friends and family situation done sub-scale.

Paying that to learn what you can get here for a fraction of the cost is a losing proposition and the money you save can go into your first flip. 

Frankly, I'm skeptical about the value proposition of advisors solely focused on investment management; their performance often fails to justify the associated costs.