If a RE lawyer recommends a bazillion LLCs, you might want to ask about simplifying your structure using a holding company and an operations company.

To simplify things for you, there are a couple of issues to consider.

I have further (over)simplified some things, as I am looking for input on the general logic (thus, rent increases, appreciation etc. are not factored in).So, here it goes:We bought a condo in the spring and fixed it up.

You'll have additional liability protection, listing the LLC as the insured or co-insured for liability protection is simplified.

@Tom Spaeth I guess to simplify, what Im saying is, "What information do I, as the wholesaler, need to legally disclose to both the seller and the buyer to stay in line with the law?"

You need to create a system for rent collection that simplifies the process. 

I know that this is all very simplified, but books have been written on this topic.

@Jon Holdman That is a good idea about offering to pay the wholesaler fee in cash though... it may simplify the whole thing (although its not IDEAL for me in terms of tying up my capital).

I think you would find that this would greatly simplify your situation.

This is obviously very simplified and not specific to your situation, but if the numbers make sense.