If raising money is their only duty, then the SEC may still see that as an unlicensed broker.

It also makes finding a currently unlicensed properties very difficult to get licensed.

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.

If you are unlicensed, a licensed agent is not legally allowed to pay you a fee for bringing a buyer.If you want a fee, you will have to get the fee directly from the (presumably unlicensed) seller...

Even good contractors who do things well see things different then the owner and there are always conflicts of interest.Then there are a significant number of contractors and unlicensed workers who are so bad it makes you want to do it yourself no matter what the risk.I would not do a big job like the roof myself for the first time and expect to get ahead.

I suggest you not give the appearance of impropriety under his license requirements and you need to take care in what you may do so as not to act in your investing as an unlicensed agency relationship, if your husband is known to be a licensee the assumption could be drawn that both of you are agents.My mom and dad were both licensees eventually, at first my mom wasn't and she always wanted to help, chit chat, visit and be involved, so I know the issues, she got her license and solved the matter. 

I recently read an article in a local REI magazine in Pennsylvania written by an attorney who is representing a few wholesellers who are being investigated by the Real Estate Commission for acting as unlicensed real estate agents.The article reads that it is not yet illegal to assign a contract in PA but if you try to make a business out of this then your assignment contract is misrepresents your intentions to the seller.  

Check your state laws, but in most states, it is legal for an unlicensed seller to pay a referral fee (on the HUD) to an unlicensed person who made a referral.As you will be the seller-of-record on the B-C transaction, you should legally be able to pay a $4K referral fee to the person who found the end-buyer.Again, check your local statutes, but that would be my recommendation on how to proceed...

My point was these boards will often deal very harshly with unlicensed people who should be licensed.

@Dominique Myles you got some poor advice, not only does TREC hammer unlicensed RE activities, targeting foreclosures is really a bad idea for newbies.