@Jonathan BelizaireI don't want to sit here and make you feel hopeless but the guru stuff promoting unlicensed brokering is just that.

Unlicensed residential mortgage loan origination activity may subject you to sanctions, administrative penalties, and even criminal charges Let me know if you have other questions

For instance, in Michigan, an unlicensed person cannot sell more than five properties a year on his own.  

Just to be clear, private lenders are usually unlicensed individuals looking for something better through real estate.

"Unlicensed broker" is a better descriptive term for these operators. 

I have asbestos report, if they are unlicensed, that's fine, I could just put them under my wing.

If a complaint is filed about what you are doing with the Commonwealth Division of Real Estate that you are acting as an unlicensed agent, the way you have this set-up, you would have a hard time defending yourself.Reading books and listening to podcasts about wholesaling is not training. 

I was listening to BiggerPockets Podcasts and they said if you are licensed you are able to look at more properties that the unlicensed can't.  

In addition, one investor may not pull permits and will only use unlicensed labor while another only uses licensed and insured labor.

It seems asinine to an experienced investor to wire money or behave foolishly to unlicensed people you meet online, but people still do it, and just because someone says he is a Private Money Lender does NOT mean he has any credibility whatsoever.