If you want a profitable RE J-O-B then you could also work as a RE agent, do everything an unlicensed wholesaler can do and more, do it with less legal grey area, and not risk any capital in terms of cash or HML like a flipper.Also, I would add that because flipping is so profitable, I flip every property I ever purchase, I just flip it to the rental market instead of the sales market and in so doing still get the nice forced appreciation equity bump of the flipper, just without all the transaction costs and short term taxes.

Here in California, a Real Estate agent cannot (legally) pay a referral fee to any unlicensed individual.  

About wholesaling, if you are not a licensed real estate professional, you want to make sure it is actually 'legal' for unlicensed persons in the state you are contemplating. 

An unlicensed person cannot be compensated in any way for referring sales or leasing prospects to a licensee.

I've contacted BHM city already; without any post renovation residency clauses they WILL allow me to act as an unlicensed GC  given I submit approved drawings for all work & all work is performed by licensed, boned & insured contractors & subs.

@Marcello Di Gerlando this one is best left to your attorney, but I can't imagine Colorado would allow a unlicensed or even licensed homeowner to work on a gas line and not have it inspected after.

It sounds like you are trying to operate as an unlicensed broker.

It is akin to rehabbing with unlicensed contractors which I just simply do not do.

I couldn't find their licence info.https://www2.cslb.ca.gov/OnlineServices/CheckLicenseII/CheckLicense.aspxHow do deal with unlicensed contractor in this situation?

If your going to assign a home make sure to get your assignment in advance of the close, otherwise your selling the home as an unlicensed broker which is a no no.