I want to start rehabbing homes, I thought the safest way would be to start an llc, procure the funds do the rehab then sell to myself at ARV, since we're also in the market for a house and pre-approved through a lender.  

I don't mean to come off as rude...I just may be missing something.It's not like if you paid down your note by $30,000 your mortgage payment would go down...you would just be taking a couple years of the procurement of the loan. 

We learned about procuring investment capital, acquisitions, REI negotiations, inspections, repairs, dealing with contractors, rental contracts/agreements, being a landlord, finding a good tenant. 

Code pt. 1450, govern the business of real estate brokerage in Illinois.The Act, as amended, defines a real estate “broker” asan individual, partnership, limited liability company, corporation, or registeredlimited liability partnership other than a real estate salesperson or leasing agentwho, whether in person or through any media or technology, for another and forcompensation, or with intention or expectation of receiving compensation, eitherdirectly or indirectly:(1) Sells, exchanges, purchases, rents, or leases real estate.(2) Offers to sell, exchange, purchase, rent, or lease real estate.(3) Negotiates, offers, attempts, or agrees to negotiate the sale, exchange,purchase, rental, or leasing of real estate.(4) Lists, offers, attempts, or agrees to list real estate for sale, lease, or exchange.(5) Buys, sells, offers to buy or sell, or otherwise deals in options on real estate orimprovements thereon.(6) Supervises the collection, offer, attempt, or agreement to collect rent for theuse of real estate.(7) Advertises or represents himself or herself as being engaged in the businessof buying, selling, exchanging, renting, or leasing real estate.(8) Assists or directs in procuring or referring of leads or prospects, intended toresult in the sale, exchange, lease, or rental of real estate.(9) Assists or directs in the negotiation of any transaction intended to result inthe sale, exchange, lease, or rental of real estate. (10) Opens real estate to the public for marketing purposes.(11) Sells, leases, or offers for sale or lease real estate at auction.

I'd parrot what some others said about it being difficult to say how much I've "made"...but net worth increase of 100k+ (and growing) in the 1.5 years is easily identifiable.

Also, Wayne, how many times do you think EVEN A USED CAR DEALER (excellent analogy, btw) has a situation where they procure a car from one of their sources - auction, private individual, etc - and don't sell it within a number of days and decide to stop payment on their seller and tell them to take the car back because they weren't able to sell it and are too poor and morally bankrupt to buy it themselves?

what you send and how you procure it will make a huge difference on cost and strategy 

Balint’s conduct included accepting phone calls inquiring about the subject property and directing or assisting in the procuring of a prospective buyer to purchase the subject property.

(Keeping in mind that, in most cases where the numbers make sense from an investment standpoint, I will likely be able to forgo listing the home and procure a buyer from my existing network.)Thanks for the insight! 

.; the endeavor should be more of a multi-pronged campaign vs. an event if you're going to procure quality leads.