Are there other legal or financial consequences I should be aware of?

I understand this is not a requirement, but I have never received a damaged unit from an inherited tenant or any legal issues.

So when my clients work with me, I simply guide them through the process of originating their own loan (legally, in the states that allow it).

It is legal and very lucrative in some parts of the US. 

I'm not familiar with the market or the legalities of wholesaling Florida.

Well, what would be happening is that your buyer would be buying your house subject to the existing note, since you can't legally sell the property without paying off that note or transferring the debt to the new buyer.

It is an expense, but they keep it all legal and compliant.

As for the legalities of setting up an LLC to protect you and your partners, I would consult with an attorney for best judgement. 

What happens during periods when the demand for legal work is lower?

As for soft costs, you’re looking at a fair amount for a condo conversion-there are legal docs to have drawn up, reviews, surveys, recordings, setting up the HOA, reserve studies etc.