If the markets fall/rents collapse, they'd have to fall below $1140/month (30% decline) before I start having to put my own money into the mortgage.

Sometimes you get cash buyers in the $2mil range but not as often as 3 and up.There is a worldwide economic collapse happening right now. 

If the deal collapses and I would lose everything, I'm out.

I can't help but think that in the next recession/depression, prices are going to absolutely collapse.  

That trigger the collapse in Q3 2022 before rebound in Q1 this year.It seems if there're more aggressive buyer that driving up the price, lot of people want to sell at the same time too.

However coming to my senses, I realized I was damn lucky the thing hadn't collapsed over and hurt someone.

I am not worried about the same type of subprime mortgage collapse, we had in '08, but I would imagine as people start to go down the debt rabbit hole that owners of apartment buildings or many SFH rentals will face an increase in non/late payments.

And with that there is a known life cycle of "empires", and the final stage before collapse is, the age of entertainment.... 

If the deal collapses and I would lose everything, I'm out.

Or, you can play games with your job title and expose the agent's license to unlikely but possible scrutiny.Or, you can tie up sellers with options and find good ways to market properties yourself or even refer to an agent who does or doesn't compensate you.Honestly, KMP, getting your brokers license will not taint your deals or cause your world to collapse and will most likely make you much easier money than you will believe without jeopardizing the wholesale operation you have now.