Actually what I can figure out is that you are basically running an unlicensed motel without a manager.

For instance, in NY, it would be illegal for you to operate a property management business as an unlicensed individual.

I did this many years ago and got someone who was unlicensed, but experienced and with access to all the software and tool.  

It is possible (if you're not licensed to do so) that they COULD (if that intension was not disclosed) slap down a hefty fine for performing what they consider to be a brokering activity for each month of operation.There's states that are cracking down on unlicensed activities.

Stephen, my unlicensed opinion is for you to do what I do and use a 2-T.

Unlicensed brokers scalping sellers and giving away the property are NOT providing a service.

I contacted an owner of an abandoned house that was hit by a car some years ago. They aren't interested in selling now and are in periodic trouble with code enforcement. The next door neighbor has two young daughters ...

I didn't understand the wholesaling model and I didn't want to go down that route (I think that is just unlicensed brokerage/middle-man...LOL). 

Got my license and learned things from that side of the fence from people who were a lot more knowledgeable than I was on the transaction process and such.Hindsight being 20/20 Id say that has been the best decision of my RE Investing career so far.I dont understand why you would want to get into unlicensed wholesaling personally, but to each their own.

From bogus ARV, to idiots sending me listings off the MLS claiming all these huge profits, to crooks contacting me with no ownership interests, to crooks advertising in the marketplace with tens of millions of dollars of RE in their ad with no ownership, to crooks in the marketplace representing themselves as agents when they are not, etc, Remember: most of these guys are unlicensed operators brokering real estate without a license.