Entity structure wise, I'm getting conflicting opinions from lawyers/tax advisors on which scenario gives me the best separation between properties and asset protection from rental activities:1.

I also just re-activated my real estate license.

("No person shall engage either directly or indirectly in the business of a real estate broker, broker-salesperson, or salesperson, temporarily or otherwise, and no person shall advertise or represent himself as being authorized to act as a real estate broker, broker-salesperson, or salesperson, or to engage in any of the activities described in R.S. 45:15-3, without being licensed so to do as hereinafter provided.)

Managing other contractors, scheduling with them and the tenants, making sure they are on time, doing a good quality job, takes a lot of time, and having a good team to manage that is crucial.

I was active-duty 20+ years ago.

Most wholesalers I know are active realtors already.

Request 3 months of bank statements from the company to verify active income.3.

I have 2 rental properties on Long Island, NY and they're both located in the same town.Property #1-Legal 2-family duplex (2 units)-Does not need to be owner-occupied since it’s a legal 2-family-Has active rental permit with the townProperty #2-Single family house w/accessory apartment (2 units + illegal basement apartment)-I live in the upstairs unit-Needs to be owner-occupied in order to get rental permit for the 2nd unit since it’s not a legal 2-family-No scenario where the basement apartment will ever be legalMy family has been renting this house without a rental permit for several decades without any issue.

If your highest leverage activity is earning money through a w-2, then stick with it. 

I doubt he's an active agent anymore.