This can often be cost-prohibitive. 

If each property costs $200,000 and your only acquisition cost is a 25% down payment, you will need $850,000 (17 × $200,000 × 25%) in savings, an almost impossible amount for most people.

However, in California, each LLC incurs an $800 annual franchise tax plus gross receipts fees if revenue exceeds $250,000, and property insurance may cost more.

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.

The best place to start is with a spreadsheet that has every every cost itemized. 

Building a 4,000-square-foot, three-story duplex with a 1,000-square-foot ADU could cost about $1.83 million, including construction and permits (excluding land).

In any case, successful wholesaling REQUIRES the knowledge, experience, and ability to accurately estimate repair and rehab costs and time.  

A simple explanation might be that rents have increased to offset higher mortgage costs, but what about property owners who locked in rates below 4%—or even 3%?

Given the latter costs, a corporation can be the best solution only if you buy multiple properties.

Having a vacancy costs money!