It got me thinking about all the folks that attend conferences, spend time on social media forums, read a ton of books, but sit idle when it comes to becoming an active note investor.  

What you want to know is what the status of your project as far as getting utilities. 

The LLC is a good structure because you get pass through status. 

Definitely consult with your CPA about this as you may have specific situations that didn't come up in your post.Generally, there is an advantage to running businesses like property management or wholesaling through an LLC taxed as an S-Corp, as it can save you social security taxes (your CPA can run the numbers for you along with a more comprehensive tax plan).However, it's usually a bad idea to hold rental property in an S-Corp, so you probably wouldn't want these two revenue streams (rental and wholesaling) running through the same entity.Let me know if you have any questions!

@Catherine ClevelandThe TSP and 401k could be combined, but the Roth money would need to be kept separate as it has different tax status.

She gets to socialize with kids and adults more than kids that are strapped down to a chair all day surrounded by other kids listening to a lecture.  

We are not social workers.I know there are plenty of landlords willing to take risks, some win some lose, I prefer to increase my chances of winning by not betting on bad cards.

They give off all the right "good tenant" vibes but I realize I don't know how to do a background check on people who don't have a US social security number.Any tips?

It doesn't matter how "passive" or "active" you are in completing these activities, they'll be taxed as I indicated in the previous two sentences.Now, the number of hours of active investing DOES apply to your status as a "real estate professional." 

the gurus sell the idea of wholesaling as easy and no money down but that couldn't be more wrong. there is no guarantee return on the money invested in marketing . a wholesaler needs to do a lot, a lot of research to the local market where they are trying to find deals. you need to not only find the deal but prove that it is one to a potential buyer/investor. now Im not trying to discourage you, there are plenty of ways of getting started without MUCH money down .you can get a few cards made at a copy/print shop. you can talk to people and let them know what your trying to do. you can build a social media platform which is free. remember as a wholesaler your simply trying to find the deal then sell it at a commission. a friend of mine that is an agent uses their title company  to find information on houses in my neighborhood,  become friends with agents!.