(take that with a little grain of salt :)I will say that having access to information (MLS) as well as some other tools that are available to licensees gives a bit of a competitive edge in the MLS sector of the market - but simply having your license isn't going to make you more successful.  

If the owner puts it in their own savings account then that's a commingling of funds situation.Of the three parties involved in the lease, I'm guessing the PM is the only one who is a real estate licensee.

As a real estate licensee your PM has established an agency relationship with you.

We're both completely fine with disclosing our status as licensees whenever necessary.

That is my understanding anyway, if anyone has opinions that the wholesaling licensee can still keep the entire wholesale fee I'd love to hear it.

Legal ramifications aside wholesaling instead of being a licensee is just a bad business plan.

It doesn't sound like you're a licensee in Virginia.

The vast majority of licensees are useless.

I have been a Licensee since 2007 and full time investor since 2010, i am an independant broker, so no ties to an office. for me I love my MLS access for analyzing deals, both needing to coordinate showings when you agent is available, reping my own HUD, Hubzu, Wiliams&Wiliams ect.  

They have state specific licensee courses and ongoing training.